President Muhamadu Buhari has signed the 2023 appropriation bill into law.
The budget, totalling N21.83 trillion, was signed on Tuesday, January 3, by the president at the Council Chambers of the State House in Abuja.
This is the last appropriation bill Buhari would sign into law as the leader and president of the Federal Republic of Nigeria.
The budget which represents an increase of N1.32 trillion from the N20.51 trillion budget proposal of Buhari, scaled through the National Assembly six days ago.
A breakdown of the budget indicates an allocation of N967.5 billion for statutory transfers, N6.6 trillion for debt servicing, N8.3 trillion for recurrent expenditure, and N5.9 trillion for capital expenditure.
Some key capital allocations include the N285 billion to the Federal Ministry of Defence, N134.9 billion to the Federal Ministry of Health, N195.5 billion to the Federal Ministry of Power and N153.7 billion to the Federal Ministry of Education.
