President Muhammadu Buhari, has signed into law the 2023 appropriation bill of N21.83 trillion, the signing will avoid delay in the 2023 budget implementation.
A budget breakdown 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.
Buhari urged the National Assembly to reconsider the decision on his administration’s N23.7 trillion ‘ways and means’ loan request.
He also, tasked Ministries, Departments, Agencies and institutions of government to gear up the revenue generation process.
“As this administration draws to a close, we will accelerate the implementation of critical measures aimed at further improving the Nigeria business environment and ensuring the welfare of our people.”