Buhari signs 2023 budget

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Factual Pursuit of Truth for Progress

President Muhammadu Buhari on Tuesday signed the 2023 Appropriation Bill of N21.83 trillion into law.

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).

The 2023 Appropriation Bill was deferred two weeks ago over what Lawan described as problems discovered in it.

The 2023 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.

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.

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