TUE. 03 JANUARY, 2023-theGBJournal| President Muhammadu Buhari Tuesday signed a N21.83 trillion federal government spending bill that includes a number of his administration’s priorities into law.
The spending bill, the first major official act of 2023, is his eight and last budget signing as President of the Federal Republic of Nigeria.
Federal lawmakers had in December passed the bill which has aa key components N967.486 billion as Statutory Transfer and N6.557 trillion for debt service. N8.329 trillion is slated as Recurrent expenditure (Non-Debt) while capital expenditure will gulp N5.972 trillion.
Some other key capital allocations include N285 billion to Federal Ministry of Defence, N195.5 billion for Ministry of Power, N153.7 billion to Ministry of Education N134.9 billion to the Federal Ministry of Health.
To be updated…
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