Nigeria's Buhari approves $2 bln extra budget for flood damage - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

Nigeria’s President Muhammadu Buhari has approved an 819.5 billion naira supplementary budget for 2022 to help deal with the impact of recent flooding, after the widespread destruction of farmland, the Senate President said on Wednesday.

Nigeria is also battling with insurgents in the northeast and crude oil theft in its oil-producing regions in the south which has slashed oil output and government revenues. Buhari said the new spending will be financed through domestic borrowing, which will raise the deficit for 2022 to 4.43% of GDP.

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