President Muhammadu Buhari has arrived at the national assembly to present the 2023 appropriation bill to the National Assembly, which would be his last budget presentation to the lawmakers as his administration leaves office in May next year.
The budget presentation is taking place at the improvised House of Representatives chamber today Frida 7th October 2022.
While he would be presenting an appropriation bill of N19.76 trillion, both the Senate and the House, within the week, had already approved the 2023-2025 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP), parameters on which the 2023 budget will be framed.
According to the document approved by the lawmakers, the estimated expenditure for the 2023 fiscal year is N19.7 trillion with Total Recurrent (Non-debt) of N8.53 trillion; Personnel Costs (MDAs) of N827.8 billion; and Capital expenditure (exclusive of Transfers) of N3.96 trillion.
