The Senate has passed a supplementary budget of N819 billion for the year 2022, following a request from President Muhammadu Buhari. The additional budget, which is intended for capital expenditure, was prompted by the devastating floods that hit Nigeria in 2022, causing significant damage to farmlands, roads, and other infrastructure across the country.

The funds will be allocated among the Agriculture, Works, FCTA, and Water Resources ministries, with N69 billion going to Agriculture, N704 billion to Works, N30 billion to FCTA, and N15.5 billion to Water Resources. The supplementary budget will be financed through additional domestic borrowing, raising the deficit for 2022 to N8.17 trillion and the deficit-to-GDP ratio to 4.43%. Some senators argued for the inclusion of the supplementary budget in the 2023 budget instead, but others emphasized the need for emergency funding in response to the natural disaster.

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