such as 605 billion naira to fund the security of our nation and defense," Bagudu told reporters following a cabinet session in Abuja.
"This is to sustain the gains made in security and to accelerate and reserve funds that are needed by the security agencies. (A) sum of 300 billion naira was provided to repair bridges, including coal and midland bridges."
The president Bola Tinubu inherited anaemic economic growth and record-breaking debt, when he took office in May. He is being pressured to reduce the financial burdens in Nigeria to gain public approval following his introduction of reforms that some critics claim have exacerbated the problems.
He slashed a long-running petrol subsidies that led to pump prices to rise by three times and allowed the currency to fall by more than 50percent and pushed prices up Africa's biggest oil exporter and the most populous country.
Bagudu declared that the government will give 25,000 naira out to households of 15 million between November through December as a result of the World Bank's loan of $800 million which was approved in April. The loan will help mitigate the effect of changes on families that are most vulnerable.
The official added that the funds in the new budget will be used to purchase agricultural products for farmers roads, construction and maintenance across the nation and would be used to fund additional salaries Federal employees in the months of the months of September through December.