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- Title
Nigeria: Supplementary Budget 2023.
- Abstract
Nigeria's cabinet has approved a supplementary budget of Naira 2.176 trillion (US$2.8bn) to fund security operations and other urgent issues. The budget includes allocations for national defense and security, additional wages for labor unions, student loans, infrastructure, and upcoming local elections. However, there has been controversy over proposed spending on a presidential yacht and luxury cars for the president, given the country's high cost of living. The budget was signed into law by President Bola Tinubu on November 8th. In a separate development, the former Central Bank of Nigeria governor, Godwin Emefiele, has been granted bail after being suspended by President Tinubu for allegedly "destroying the country's financial system."
- Subjects
NIGERIA; CENTRAL Bank of Nigeria; BUDGET; BAIL; LUXURY cars; LOCAL elections; STUDENT loans; LABOR unions; COST of living
- Publication
Africa Research Bulletin: Economic, Financial & Technical Series, 2023, Vol 60, Issue 10, p24490A
- ISSN
2053-227X
- Publication type
Article
- DOI
10.1111/j.1467-6346.2023.11365.x