The Nigerian Federal Government has earmarked a substantial sum of N575.6 billion in its special funding budget.
This allocation aims to enhance the ongoing fight against insecurity and anti-insurgency operations.
Specifically, N184.25 billion has been allocated for the acquisition of military equipment, arms, and ammunition.
This significant allocation is part of the N2.18 trillion supplementary budget for the 2023 fiscal year, which was approved by the Federal Executive Council.
Within this funding package, the Ministry of Defense and the Armed Forces are set to receive over N147.03 billion to intensify internal operations against groups like Boko Haram, bandits, kidnappers, and other anti-insurgency threats.
The Nigerian Army, Nigerian Air Force, and the Nigerian Navy will receive N211.5 billion, N112.2 billion, and N62.8 billion, respectively, making them the primary beneficiaries of the military budget. The breakdown includes N245.1 billion for recurrent expenditure and N329.99 billion for capital expenditure.
According to Minister Abubakar Bagudu of the Ministry of Budget and Economic Planning, the budget’s primary purpose is to address urgent national defense and security needs.
An additional N300 billion has been allocated for bridge repairs, including the Eko and Third Mainland Bridges, as well as road construction, rehabilitation, and maintenance. N18 billion is designated for the Independent National Electoral Commission to support elections in Bayelsa, Kogi, and Imo, while N5.5 billion is allocated to launch the student loans board.
In the supplementary budget, N49.99 billion is directed towards the Ministry of Defense, with N33.6 billion for recurrent and N16.4 billion for capital expenditure.
The Nigerian Army’s budget allocation of N211.5 billion comprises N116.3 billion for recurrent and N95.2 billion for capital expenditure.
The budget also covers various capital projects, including the acquisition of arms and ammunition, refurbishment, and upgrades of military equipment.
Additionally, N31.59 billion has been set aside to boost the morale of security officers through allowances and severance packages.
This comes as a response to the sacrifices made by 186 security operatives in their line of duty between January and September 2023.
Furthermore, the Federal Government has approved N16.02 billion for “Operation Dakatar da Barawo,” aimed at combating oil theft in the Niger Delta region.
This operation, initiated by the Nigerian Navy in collaboration with the Nigerian National Petroleum Limited, seeks to prevent further sabotage of the nation’s oil and gas infrastructure in the region.
Lastly, N5.09 billion has been allocated for the president’s yacht in the government’s plans.