The National Assembly has approved a reviewed N575 billion as supplementary appropriation for the 2015 Fiscal Year.
The supplementary budget was sent to the National Assembly on November 18 by President Muhammadu Buhari.
President Buhari had requested for N465.6 billion but the National Assembly reviewed the amount, adding N108.9 billion.
According to the National Assembly, the added N109 billion will offset subsidy debts for the last quarter of 2015 which was not captured in the 2015 budget.
The lawmakers said the addition was to ensure that the funds which, were not captured, would not lead to industrial action that could result in fuel scarcity again.
A breakdown of the approved supplementary budget showed that petroleum subsidy payment would now gulp N522.2 billion, the fight against insurgency under operation Zaman Lafiya Dole in the North-east would gulp N29.9 billion while the Nigerian Army is to get N17.4 billion.
The Victims Support Fund would gulp N5 billion while the Outstanding Severance Gratuity and Allowances of outgone and incoming legislators and their aides will take N10.6 billion.
The Chairman, Senate Committee on Appropriation, Senator Danjuma Goje, explained that 90 per cent of the supplementary budget was meant for the payment of subsidy to major oil marketers who imported 52 per cent of petroleum products.
Giving further breakdown of the budget, the House of Representatives said that the additional funds were for subsidy payments from October to December 2015.
-Channel TV
