The National Assembly has passed the 2023 appropriation bill at N21.83 trillion.
This shows an increase of N1.32 trillion from the N20.51
trillion budget proposal of President Muhammadu Buhari.
A breakdown of the budget 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.
Meanwhile, the Senate has passed the 2022 supplementary
budget of N819.5 billion.
According to the upper chamber, the amendment of the 2022
Appropriation Act is to ensure the implementation of the key capital project in
the Act which has not been funded as at this time.
The upper chamber said it is expedient that the capital
projects be extended to prevent the problem of abandoning projects in the
budget.
The supplementary budget is to address food security
following devastating floods across the country as well as damages to road
infrastructure and the water sector.
A breakdown of the supplementary budget in the report by the
Committee of Finance shows that the Ministry of Agriculture is to get N69
billion, the Ministry of Water Resources – N15.5 billion, FCT – N30 billion,
Ministry of Works and Housing – N704 billion.
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