The federal government has assured Nigerians of its resolve to judiciously utilize the proposed N6.2 trillion additional budgetary expenditure aimed at stimulating the economy through the implementation of various infrastructural projects including road, rail, water, irrigation and dams in the 2024 fiscal year.
Minister of Budget and National Planning, ATIKU BAGUDU, gave the assurance while addressing the House of Representatives Committee on Appropriation chaired by ABUBAKAR BICHI.
BICHI had earlier tasked the Minister to give details on the Appropriation bill including the N3.2 trillion capital expenditure increase and N3 trillion recurrent expenditure for the newly proposed national minimum wage, observing that there is a need for Nigerians to be adequately informed of the details of the proposed N6.2 trillion budget, which is in addition to the N28.7 trillion Appropriation Act approved for the 2024 fiscal year.
In response, the Minister of Budget and National Planning, disclosed that the proposed budget was aimed at providing counterpart funding for rail projects that have literally stopped in the last year, including the longest among them – Port Harcourt Main Bridge, which will traverse Rivers, Imo, Enugu, Ebonyi, Anambra, Benue, Nasarawa, Plateau, Katsina, Bauchi, Gombe, Yobe, and other parts of the country.
He further assured that the projects captured in the amendment to the 2024 Appropriation Bill will not limit the revenue available for the implementation of the 2024 Appropriation Act.
