The House of Representatives has passed the 2023 appropriation bill increasing the 20.51 trillion naira budget estimate presented by President Muhammadu Buhari to 21.82 trillion naira which showed an increase of over 1 trillion naira of the figures proposed by the executive.
The passage followed the consideration and approval of the report of the House Committee on Appropriation at plenary.
A breakdown of the budget showed that 967.48 billion naira is for statutory transfers; 6.55 trillion naira for debt service; 8.32 trillion naira for recurrent expenditure while the sum of 5.97 trillion naira is for contribution to the development fund for capital expenditure for the year ending December 31 2023. DAILY TRUST
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