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The Federal Government has indicated that the proposed N6.2 trillion supplementary budget will be used to pay the minimum wage and invest in infrastructural projects.
The Minister of Budget and National Planning, Mr Atiku Bagudu, gave the assurance while addressing the House of Representatives Committee on Appropriation in Abuja.
He said that the funds would be spent on stimulating the economy through the implementation of various infrastructural projects.
These projects include road, rail, water, irrigation, and dam projects in the 2024 fiscal year with prudent utilisation of the funds.
He said that the N3 trillion would cater for the newly proposed national minimum wage, for which President Bola Tinubu said the bill would soon be sent to the National Assembly.
He explained that the proposed budget was aimed at providing counterpart funding for rail projects.
The railways according to him were the Port Harcourt Main Bridge, which would traverse the rivers Imo, Enugu, Ebonyi, Anambra, Benue, Nasarawa, Plateau, Katsina, Bauchi, Gombe, Yobe, and other parts of the country.
The minister said the second project is Badagry-Tin Can Port, Lekki Port, while the third one is Lagos-IIbadan Standard Gauge, adding that the fourth one is Kano-Marada Standard Gauge.
He said that there would be funding for rolling stock that is required, adding that this would gulp the sum of N530 billion as requested for the five rail projects.
Bagudu assured Nigerians that the projects encapsulated in the amendment to the 2024 Appropriation Bill would not limit the revenue available for the implementation of the 2024 Appropriation Act.
