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NATIONAL BUDGET APPROVED

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NATIONAL BUDGET APPROVED by : 3:24 pm On December 29, 2022
2023 Appropriation Bill, 2022 (SB. 1062) was read the Third Time and PASSED!#TodayInSenatePlenaryThe Nigerian SenateThe House of Representatives on Wednesday approved the sum of N21.827,188,747,391 as federal government appropriation for the 2023 fiscal year.The House in a supplementary Order Paper read by the Speaker, Femi Gbajabiamila also passed the 2023 finance bill, as well as the supplementary budget for 2022.SOURCEThe National Assembly has passed the 2023 appropriation bill at N21.83 trillion.

This shows an increase of N1.32 trillion from the N20.51 trillion budget proposal of President Muhammadu Buhari.
A breakdown of the budget indicates an allocation of N967.5 billion for statutory transfers, N6.6 trillion for debt servicing, N8.3 trillion for recurrent expenditure, and N5.9 trillion for capital expenditure.SOURCE

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