The National Assembly on Wednesday passed the 2023 Budget of N21, 827,188,747, 391.
The approved budget was higher by N1.31 trillion which was moved from the initial N20.1 trillion to N21.8 trillion.
President Muhammadu Buhari had on Friday, October 7th 2022 proposed and laid a N20.51 trillion Appropriation bill for consideration by both the Senate and the House of Representatives.
The passage of the appropriation bill was sequel to the consideration and approval of the report of the Senator Jibrin Barau, APC, Kano North led Senate Committee on Appropriations and the House Committee on Appropriation presented by the chairman, Hon. Aliyu Betara.
Out of the total sum, N967.48 billion was earmarked for Statutory Transfers, N6.55 trillion was for debt servicing; N8.32 trillion was for recurrent (non-debt) expenditure while the sum of N5.97 trillion was for capital expenditure for the year ending 31st day of December, 2023.
In the passed budget, Benchmark Price of Crude Oil is pegged at $75 USD Per Barrel; Crude Oil Production at 1.69 mbpd; Exchange Rate at N435 57/US$; Gross Domestic Production (GDP) Growth Rate at 3.75percent and Inflation Rate at 17.16% .
4 replies on “NASS passes N21.82trn Budget for 2023”
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