Economy
Reps Pass N21.82trn Appropriation Bill for 2023
The House of Representatives on Wednesday passed the 2023 appropriation bill, increasing the total budget estimate from N20.51 to N21.82 trillion.
The Bill was passed following the deliberations and adoption of the report by the House Committee on Appropriation.
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The budget passed showed an increment of over N1 trillion.
A breakdown of the budget showed that N967.48 billion is for statutory transfers; N6.55 trillion for debt service; N8.32 trillion 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, December 31, 2023.
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