2023 budget

Reps increase 2023 budget to N21.82trn

By Blessing Enechojo Abu

The House of Representatives passed an appropriation budget raising the 2023 budget by 1.31 trillion Naira.

On Wednesday 28 December 2022, members of the House of Representatives increased the budget presented by the President, Muhammadu Buhari from 20.51 trillion to 21.82 trillion Naira.

Out of the total sum budgeted for 2023, N967.48 billion is for statutory transfers, N6.55 trillion is for debt service, N8.32 trillion is 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 on the 31st day of December 2023.


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