Fiscal Year: Senate Passes 2022 Supplementary Budget Of N819.5bn

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The Senate on Wednesday passed the 2022 Supplementary Budget of N819.5 billion.

President Muhammadu Buhari sought the passage of a supplementary budget to be financed through additional domestic borrowing.

The supplementary budget is to address food security following devastating floods across the country, as well as Damages to road infrastructure and water sector.

The supplementary budget is to be funded by additional borrowing and will increase the budget deficit to 8.17 trillion naira.

The supplementary budget is for the ministry of Agriculture, Water Resources, FCT and Works.