Supplementary Budget Increases 2021 Deficit By N848bn

Supplementary Budget Increases 2021 Deficit By N848bn

How FG plans to spend N982.7bn

THE federal government plans to spend N859.397 billion of the 2021 Supplementary Budget, recently passed by the National Assembly, on capital projects, while N123.332 billion would be spent on recurrent expenditure.

The government provided a supplementary revenue projection of about N135 billion, an indication that the Supplementary Budget would increase the annual deficit by N847.729 billion.

The deficit would be financed through debt of about N802.102 billion; aid/grants N6.045 billion; and restructured loans of N39.582 billion.

The schedule indicated that the bulk of the capital budget would go to the military, which would spend the sum of N698.686 billion on the procurement of various items ranging from aircraft to arms and ammunition.

Details of the allocations showed that the Nigeria Air Force would spend N239.477 billion, followed by the Army with N207.543 billion.

The Nigerian Navy was allocated the sum of N157.780 billion; Defence Space Administration, N43.326 billion; Defence Headquarters, N33.673 billion; and Defence Intelligence Agency, N16.887 billion.

Out of the N33.673 billion supplementary budget of the Defence Headquarters, N15.829 billion would be spent on vehicles and generator; N11. 489 billion on ammunition; N1.641 billion for additional 2,700 troops; while N1.3 billion was also provided for the CIMIC Quick Impact Project.

The Air Force would spend the sum of N140.767 billion on additional aircraft requirement and another N84.964 billion on payment for the purchase of defence equipment.

The Army would be expected to spend its largest supplementary budget of N96.554 billion on the purchase of defence equipment; N48.670 billion on vehicles; N37.646 billion on ammunition; and N 14.892 billion on arms.

Similarly, the Navy would spend N36.545 billion on arms and ammunition; N34.697 billion on defence equipment; N21.406 billion on other equipment; N13.411 billion on surveillance equipment; N12.160 billion on general hardware; 10.465 billion on general items (consumables); and N10.171 billion on body armour and protection.

The police was allocated N22.586 billion supplementary budget for various activities across all commands.

Of great interest to the public would be the allocation of N4.870 billion to the National Intelligence Agency for the acquisition of Turaya interception solution and Whatsapp interception solution.

A provision of N60.728 billion was made for the purchase of 29.87 million doses of J& J vaccines to tackle the COVID-19 pandemic.

A Service Wide Vote of N66.870 billion was made for minimum wage arrears for tertiary institutions; 2021 salary shortfall contingency; earned academic allowances for universities; constitutional review; and vaccines delivery to every ward, in the country.

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