The Federal Government has reassured Nigerians of its commitment to the prudent use of the proposed N6.2 trillion additional budgetary expenditure.
This budget aims to boost the economy by implementing various infrastructure projects in the 2024 fiscal year, such as roads, railways, water systems, irrigation, and dams.
Minister of Budget and National Planning, Senator Atiku Bagudu, addressed the House of Representatives Committee on Appropriation, chaired by Hon. Abubakar Bichi, emphasizing the importance of the proposed budget.
He highlighted the focus on providing funding for railway projects, including the Portharcourt-Maiduguri railway project, Badagry-Tin Can Port, Lagos-Ibadan Standard Gauge, and Kano-Maradi Standard Gauge.
Additionally, there is a budget allocation of N522 billion for water, irrigation, and dam projects. The proposed N3.2 trillion infrastructural fund aims to support priority and critical projects that require additional funding.
During the discussion, Minister Bagudu addressed inquiries regarding the proposed national minimum wage and the need for detailed information on the N6.2 trillion budget proposal.
Lawmakers praised the administration’s efforts to address infrastructure challenges and underscored the importance of enhancing security measures.
Projects outlined in the budget proposal include the Lagos-Calabar 1,000-kilometer road project and the Sokoto-Badagry road projects. The Minister mentioned ongoing efforts to secure funding for various infrastructure projects, including the rail lines and road networks.
Regarding revenue projections, Bagudu assured that the proposed projects in the 2024 Appropriation Bill would not impede the revenue available for implementing the 2024 Appropriation Act.
