Reps pass N21.82trn budget for 2023
A breakdown of the budget showed that N967.48 billion is for statutory transfers; N6.55 trillion for debt service; N8.32 trillion for recurrent…
House of Representatives
The House of Representatives on Wednesday passed the 2023 appropriation bill, increasing the N20.51 trillion budget estimates presented by President Muhammadu Buhari to N21.82 trillion.
The passed budget showed an increase of over N1 trillion of the figures proposed by the executive.
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The passage followed the consideration and approval of the report of the House Committee on Appropriation at plenary.
A breakdown of the budget showed that N967.48 billion is for statutory transfers; N6.55 trillion for debt service; N8.32 trillion for recurrent (non-debt) expenditure while the sum of N5.97 trillion is for contribution to the development fund for capital expenditure for the year ending, December 31, 2023.
Details later