Buhari finally signs 2023 budget of 21.83 trillion into law
President Muhammadu Buhari on Tuesday signed the 2023 Appropriation Bill into law.
POLITICS NIGERIA reports that the Appropriation Bill totals N21.83 trillion.
Buhari signed the bill at the Council Chambers of the Presidential Villa, Abuja, in the presence of Vice President Prof. Yemi Osinbajo, Senate President Ahmad Lawan, Speaker of the House of Representatives, Femi Gbajabiamila, and other members of the Federal Executive Council (FEC).
Recall that Lawan discovered problems in the the 2023 Appropriation Bill hence the reason it was deferred two weeks ago.
While the 2023 budget maintained the recurrent expenditure at approximately N8.27 trillion, the capital expenditure increased from N5.35 trillion to N5.9 trillion and debt servicing also increased from N6.31 trillion to N6.6 trillion.
Some key capital allocations include 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.