FEC approves N895bn draft supplementary 2021 budget



FEC approves N895bn draft supplementary 2021 budget

By Ismaila Chafe

The Federal Executive Council (FEC) approved a draft supplementary budget of 895 billion naira for the year 2021.

Finance Minister Dr Zainab Ahmed revealed this when she briefed State House correspondents on the results of the Council meeting chaired by President Muhammadu Buhari on Wednesday in Abuja.

Ahmed said the next step would be to present a draft law to this effect to the National Assembly for approval, in accordance with constitutional provisions.

She said: “Today the Federal Ministry of Finance, Budget and National Planning presented to council a proposal to seek approval of the Federal Government of Nigeria 2021 Supplementary Budget Proposal.

Ahmed added that the approval was based on the need for funding to ensure Nigeria is able to meet its commitment under Nigeria’s Comprehensive AIDS Program.

It was also based on the urgent need to specifically strengthen the capacity of military and paramilitary agencies to address the various security challenges in the country.

“The council approved on this note the supplementary appropriation bill of 2021, for a total expenditure of 895,842,462,917 N.

“The total of this expenditure is made up of 83.56 billion naira for the COVID-19 vaccination program, covering 30 billion vaccines from the Johnson and Johnson vaccines and the logistics costs associated with the deployment of this vaccine.

“It also contains the sum of 1.69 billion naira for the comprehensive Nigerian AIDS program currently in effect in the states and an additional contingency allowance of 40 billion naira as part of the wage adjustments across the board. civil service to meet the needs for education sector allocations and other salary-related issues.

“This is an additional provision to the 100 billion naira already provided for in the 2021 budget.

“The council also approved a global sum of N770.60 billion to further strengthen the capacity of defense and security agencies to address current and emerging security challenges in our country. “

The minister said the board also approved the drawdown on some existing World Bank loans totaling around 39.58 billion naira as part of the supplementary budget funding source.

“We will work with the World Bank to restructure some of the existing facilities to achieve this 39.58 billion naira.

“We have also received approval to withdraw 135 billion naira from certain special reserve lobbying accounts to partially fund this additional budget but specifically related to the COVID-19 vaccine, salaries and other health-related expenses. as well as the recurring component of defense and security spending, “she said.

Ahmed said the approval also contained the authorization to borrow 722.53 billion naira for security spending, which will come from the domestic international capital market.

Industry, Trade and Investment Minister Adeniyi Adebayo told correspondents he presented the president with the first Nigerian-made cell phone, ahead of the start of Wednesday’s FEC meeting.

According to Adebayo, the phone is one of 12 mobile phones produced, using local components, by the Electrical / Electronic Technology Department of the Industrial Training Fund (ITF) Model Skills Training Center. (NOPE)


Short Link:


NNN: :is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor @

Recent Posts

Global COVID-19 cases drop for 7th week – WHO Governors to hold virtual meeting on judicial, legislative autonomy PDP is focused to take over Anambra – state Chairman Football scouting programme begins in Ilorin NGF felicitates ex-Head of State Abubakar @79 Osinbajo urges counter narratives to superstitious beliefs about albinism A’Ibom Assembly passes 19 bills in 2 years Nigeria needs unifying, proactive leaders–Osinbajo Lagos Govt unveils emergency, security dispatch centre in Epe How church saved widow from harmful traditional practice – Catholic priest Insecurity: Edwin Clark calls for National Dialogue First lady meets wives of Service Chiefs, urges support for spouses Police arrest 7 suspected cult members in Lagos JUSUN commends Ngige for support during strike World Blood Donor Day: FG recognises voluntary donors for consistency Repositioning Nigerian MSMEs for AfCFTA Kano partners private firm on $162m first agro-industrial park –official G7 devt. finance institutions, others to invest $80bn into African businesses Ogun APC loses treasurer World Blood Donor Day: Nigeria needs 200m units of blood annually — NBTS Police foil robbery attack in Kaduna NNPC, Egbin collaborate to boost gas-to-power programme LASUTH to inaugurate 200-bed building Former labour minister urges new NSITF mgt. to embrace integrity Forum calls on governments to ensure adequate security of Nigerians Onyeama, Odusile, IOM for JIFORM Togo summit Niger community seeks support for kidnapped Chief, wives NATO summit opens with focus on solidarity China presents ‘systemic challenges’ to int’l order – NATO India reiterates support to cricket development in Nigeria Attacks: CP orders more personnel to Zaria Raw materials processing key to value addition, intra trade- Sealink Chairperson Sealink to commence operation in Q4 2021- Chairperson Inland waterways use will deepen African trade- Sealink UNICAL VC bags African teaching authourity award First person: a live antidote to disinformation in the Central African Republic NGO plans free learning in churches, mosques Activist wants governors to support judicial, legislative, LGA’s financial autonomy 2 die in Jigawa road accident Bauchi governor appoints new Chief of Staff Mortars still preferred to blenders – NAN survey Anambra governorship candidate pledges more dividends of democracy Global legal community steps up for refugees amid pandemic, providing 165,000 hours of free legal aid COVID-19: Nigeria records lowest infection figure in more than 1 year COVID-19 vaccine: UNICEF hails G7 commitment to sharing 870m doses COVID-19: ACT-Accelerator partnership needs $16bn to fill funding gap – WHO Tambuwal says PDP set to regain power Osinbajo, Fayemi laud Oba’s development efforts Gov. Masari restates commitment to water supply World Blood Day: 7m African patients need blood yearly – WHO