FG Provides Additional N60bn In Supplementary Budget For Student Loans

The federal government announced that it has provided additional sixty billion naira in the supplementary budget for student loans.

Minister of Budget and Economic Planning, Senator Atiku Bagudu who stated this in Abuja weekend said the federal government provided additional sixty billion naira in addition to what has been provided in the supplementary budget for the student loans so that students who are in need of support but cannot access it, can have one or two student loans.

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He said, as part of efforts to cushion the effects of hardship for students, the government provided a total of N60 billion students loan. While N50 billion was captured in the budget, another N10 billion was appropriated in the supplementary budget.

He said there was a N10 billion provision in the supplementary budget.

“Right now, we have N60 billion of students loan in the two budgets. We believe that our students should have an additional option,” he said.

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In addition to this, Bagudu stated that the government has earmarked Youth Development Fund and Project Preparation Fund.

“Our constitution necessitated that Mr President submits a budget proposal to the National Assembly.

There has been a debate of the appropriation powers of the National Assembly.

When we submit budget, the budget was distributed to committees of the Senate.

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He said the controversies in some items that were being reflected as padding has to do with constituency allocation, which according to him, were lawful as well as issues around the foreign exchange that was adjusted to reflect current realities.

Bagudu stated that the word padding is a tautology and it’s now seen to be negative. (Blue print)