The Federal Government has said the proposed N6.2 trillion supplementary budgetary will be used to pay the new minimum wage.
Senator Atiku Bagudu, the Minister of Budget and National Planning, disclosed this while speaking to the House of Representatives’ Committee on Appropriation in Abuja on Monday, July 22.
According to him, the funds would be spent on stimulating the economy through the implementation of various infrastructural projects.
He said the N3.2 trillion capital component of the supplementary budget is meant as addition funding for priority projects in road, rail, water, irrigation and dam projects in the 2024 fiscal year.
He further said that, the proposed ‘Renewed Hope Infrastructural Fund’ was intended to provide equity contributions or counterpart contributions of the federal government projects designated as priority projects as well as critical projects which needed more appropriation so that they will not suffer neglect.
