President Muhammadu Buhari has asked the National Assembly to approve a supplementary budget of 895 billion naira.
The president’s request was conveyed in a letter to the Senate President, Ahmad Lawan, who read it at the start of plenary today.
President Buhari’s request comes about two weeks after the Federal Executive Council approved the money.
The supplementary budget, according to the federal government, is specifically meant to enhance the capacity of the military and paramilitary agencies to tackle the various security challenges in the country.
As part of the financing source for the supplementary budget, the Federal Executive Council also gave the approval to draw down on some existing World Bank loans totalling about 39.58 billion naira. The approval by the Senate will be done on another legislative day after the appropriate committee has considered the president’s request.