President Muhammadu Buhari on Tuesday, January 3rd, 2022 signed into law the Appropriation Bill, 2023 totaling N21.83 trillion.
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.
This development comes six days after the National Assembly passed the bill, which represents an increase of N1.32 trillion from the N20.51 trillion budget proposal of Buhari.
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