President Buhari Inks N21.8trn Appropriation Bill for 2023
- President Muhammadu Buhari has finally assented to the 2023 Appropriation Bill into law
- This came after there was a delay in the Senate after spotting some disparities in the drafting of the budget
- Reports reveal that the N21.83 trillion had an additional N1.32 trillion over the initial executive proposal
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Aso Rock - The appropriation bill for the year 2023 has been signed by President Muhammadu Buhari on Tuesday, December 3.
As reported by Daily Trust, the bill totalling N21.83 trillion was signed at the State House at the Federal Capital Territory, Abuja.
It was gathered that Senate President Ahmad Lawan, and Speaker of the House of Representatives, Femi Gbajabiamila were all present at the assenting of the bill by the President.
According to President Buhari, the bill was signed in order to ensure quick implementation while also revealing that there is an increase of N1.32 trillion over the initial executive proposal.
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President Buhari instructed Zainab Ahmed, the minister of finance to work closely with the national assembly to carry out necessary amendments.
Some key allocations in the 2023 budget
According to Channels TV, the budget retained the recurrent expenditure at approximately N8.27 trillion. On the side of capital expenditure, there was an increment of N5.35 trillion to N5.9 trillion, while there was also an increase in debt servicing of N6.31 trillion to N6.6 trillion.
However, the federal ministry of defence had the highest allocation as it gulped N285 billion, the ministry of health got an allocation of N195.5 billion while the ministry of education and the ministry of power both got an allocation of N153.7 billion each.
Senate announces date President Buhari will sign 2023 budget
Recall that Legit.ng reported that a new date has been announced for the signing of the 2023 appropriation bill by President Muhammadu Buhari.
This revelation was made known by the President of the Senate Ahmad Lawan on Friday, December 30.
He ruled out claims that President Buhari will delay the process while stating that he will pen his signature to the 2023 budget on Tuesday, January 3.
Source: Legit.ng
