President Muhammadu Buhari has signed the 2023 Budget of N21.83 trillion along with the 2022 Supplementary Appropriation Bill into law.
Speaking yesterday at the signing of the eighth and final annual budget of this Administration, in Abuja, the President said the aggregate expenditures of N21.83 trillion, is an increase of N1.32 trillion over the initial Executive Proposal for a total expenditure of N20.51 trillion.
Correspondent, Raliat Adenekan reports that the President also urged the National Assembly to reconsider its position on his proposal to Securitize the Federal Government’s outstanding Ways and Means balance at the CBN.
The President also directed the Finance Ministry to work towards early release of the 2023 capital votes to enable MDAs commence the implementation of their capital projects in good time.
The budget however reveals that the government wants to sell some public assets in order to lessen the huge deficit, which amounts to just less than 5% of GDP.
Alongside the main spending plan is an additional spending plan to deal with the aftermath of the recent nationwide floods which damaged vital infrastructure.