Nigeria’s parliament passed a 982.729 billion naira ($2.39 billion) supplementary budget on Wednesday to fund Covid-19 vaccines and defence services.
Parliament also approved the external borrowing of 6.183 billion dollars through issuance of a Eurobond.
President Muhammadu Buhari had requested the funds to purchase Covid-19 vaccines, for which no provision was made in the 2021 budget approved in December.
The supplementary budget will also go towards the military at a time Nigeria faces rising insecurity – ranging from mass abductions at schools, kidnappings for ransom, armed conflict between herdsmen and farmers, armed robberies and various insurgencies in the north of the country.
($1 = 411.0000 naira)
We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can
trust. For only R75 per month, you have access to
a world of in-depth analyses, investigative journalism,
top opinions and a range of features. Journalism
strengthens democracy. Invest in the future today.