FG To Use N6.2tr Additional Budget To Stimulate Economic Growth

The Federal Government of Nigeria has reiterated its commitment to judiciously utilize the proposed N6.2 trillion additional budget to stimulate economic growth through targeted infrastructure projects.

Minister of Budget and National Planning, Senator Atiku Bagudu, gave the assurance in Abuja while addressing the House of Representatives’ Committee on Appropriation.

The proposed budget includes N3.2 trillion for capital expenditure and N3 trillion for recurrent expenditure, including the newly proposed national minimum wage transmitted by the President for accelerated consideration.

The minister highlighted various projects, including road, rail, water, irrigation, and dam projects, aimed at addressing infrastructural deficits and promoting economic growth.

He also emphasized efforts to address security concerns and ensure effective implementation of the budget.

In his opening remarks, Chairman Appropriation, Abubakar Bichi emphasized the need for Nigerians to understand the details of the proposed N6.2 trillion budget supplementing the N28.7 trillion Appropriation Act for 2024.

Lawmakers commended the government’s efforts to address infrastructure deficits and promote economic growth but stressed the need to address security concerns.

Minister of Budget and National Planning, Senator Atiku Bagudu, highlighted various projects, including the Lagos-Calabar road project, Sokoto-Badagry road project, and rail projects.

He explained that the proposed budget aims to provide counterpart funding for rail projects that have stalled in the last year, including the Port Harcourt-Maiduguri rail line.

He highlighted the importance of investing in water, irrigation, and dam infrastructure to support agriculture and food security..

Oduyemi Odumade, Edited By Grace Namiji