- Jerks the budget by N1.31 trillion, moving it from N20.51 trillion to N21.82 trillion
- Passes the Finance bill, 2022 designed to provide support for the funding of the 2023 budget.
- Considered and passed N262bn as budget for FIRS in the fiscal year 2023.
December 29, (DAILY SUNRISE) – The National Assembly has passed a total of N21,827,188,747,391 as national budget for the 2023 fiscal year.
The passage of the appropriation bill which was announced Wednesday by the 9th Assembly was sequel to the consideration and approval of the report of Senator Jibrin Barau, APC, Kano North led Senate Committee on Appropriations and the House Committee on Appropriation presented by the chairman, Hon. Aliyu Betara.
The passage of this budget marks an increase of N1,319,246,566,677 from the N20.51 trillion budget proposal of President Muhammadu Buhari presented to a joint session of the National Assembly on October 7.
Below is a quick breakdown of the budget allocation as captured in the 2023 Appropriation Bill:
- Statutory Transfers ~ N967.48 billion
- Debt Service ~ N6.55 trillion
- Recurrent (non-debt) expenditure ~ N8.32 trillion
- Development for Capital Expenditure ~ N5.97 trillion
Some key capital allocations include:
- Federal Ministry of Defence ~ N285 billion
- Federal Ministry of Health ~ N134.9 billion Federal Ministry of Power ~ N195.5 billion to Federal Ministry of Education ~ N153.7 billion
- Tertiary Institutions Revitalisation Fund ~ N300 billion
- Salary renegotiation ~ N170 billion
- Universities pension, including arrears ~ N10.2 billion
The lawmakers at the end of the plenary adjourned for new year break and are expected to resume plenary January 17th.
