JUST IN: Reps pass N21.83trn 2023 budget — raised by N1.33trn

The house of representatives has passed N21.83 trillion as budget for the 2023 fiscal year.

The appropriation bill was passed by the lower legislative chamber on Wednesday after Muktar Betara, chairman of the committee on appropriations, presented a report.

The budget was also increased by N1.33 trillion.

Out of the figure passed, N6,557,597,611,797 is for debt service; N8,329,370,195,637 is for recurrent (non-debt) expenditure; while the sum of N 5,972,734,929,421 is for contribution to the development fund for capital expenditure.

In October, 2022, President Muhammadu Buhari presented N20.51 trillion 2023 budget proposal to the national assembly.

More to follow…

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