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budget

Buhari signs N21.8tn 2023 budget into law

The president made the disclosure in a live broadcast on Tuesday, January 03, 2023.

This comes six days after the National Assembly passed the bill, which indicates an increase of N1.32 trillion.

What you should know: The budget was increased from N20.5 trillion, presented by Buhari in October, to N21.8 trillion.

Buhari sends message to the National Assembly: He urged the National Assembly to reconsider the decision on his administration’s N23.7 trillion ‘ways and means’ loan request.

Other things the president said: President Buhari explained that the 2022 Supplementary Appropriation Act would enable the administration to respond to the havoc caused by the recent nationwide floods in the infrastructure and agriculture sectors.

He also said the Minister of Finance, Budget and National Planning will subsequently provide more details of the approved budget and the supporting 2022 Finance Act.

Also, Buhari tasked Ministries, Departments, Agencies and institutions of government to gear up the revenue generation process.

“As this administration draws to a close, we will accelerate the implementation of critical measures aimed at further improving the Nigeria business environment and ensuring the welfare of our people,” he stated.

Why Buhari signed the bill just as NASS presented: Detailing his decision to sign the 2023 Appropriation Bill into law as passed by the National Assembly, President Buhari claimed it was to enable its implementation to commence without delay, considering the imminent transition process to another democratically elected government.

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