back to top

President Buhari signs N21.8 trillion 2023 budget into law

PRESIDENT Muhammadu Buhari has today signed the 2023 Appropriation Bill of N21.8 trillion into law at the Council Chambers of the State House in Abuja today.

The budget is an increase of N1.32 trillion on the President’s proposal of N20.51 trillion.

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.


READ ALSO:
Obasanjo is jealous of Buhari’s achievements – Presidency

Buhari confirms Biu as FRSC Corps Marshal



‘I did my best’, Buhari says in valedictory New Year Message

Full text of President Muhammadu Buhari’s last New Year Message to Nigerians




     

     


    Read Also:

    The 2023 Appropriation Bill was deferred two weeks ago over what the Senate President, Ahnad Lawan, described as problems discovered in it.

    The budget maintained the recurrent expenditure at approximately N8.27 trillion, while capital expenditure increased from N5.35 trillion to N5.9 trillion, and debt servicing also increased from N6.31 trillion to N6.6 trillion.

    Key capital allocations include the N285 billion to the Federal Ministry of Defence, N134.9 billion to the Federal Ministry of Health, N195.5 billion to the Federal Ministry of Power, and N153.7 billion to the Federal Ministry of Education.

    The Tertiary Institutions Revitalisation Fund of N300 billion and salary renegotiation of N170 billion have been captured in the 2023 budget, while N10.2 billion has also been provided for the universities pension, including arrears.

    Harrison Edeh is a journalist with the International Centre for Investigative Reporting, always determined to drive advocacy for good governance through holding public officials and businesses accountable.

    Join the ICIR WhatsApp channel for in-depth reports on the economy, politics and governance, and investigative reports.

    Support the ICIR

    We invite you to support us to continue the work we do.

    Your support will strengthen journalism in Nigeria and help sustain our democracy.

    If you or someone you know has a lead, tip or personal experience about this report, our WhatsApp line is open and confidential for a conversation

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here


    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Support the ICIR

    We need your support to produce excellent journalism at all times.

    -Advertisement-

    Recent

    - Advertisement