On Friday, President Major General Muhammadu Buhari (ret.) stated that the federal government aims to earn N1.92 trillion from oil in 2023.
The 2023 appropriation bill was presented by Buhari to the National Assembly in a joint session in Abuja.
He continued by saying that the government would spend N20.15 trillion during the 2023 fiscal year.
Of that sum, N6.31 trillion and N2.42 trillion will go to debt repayment and government-owned businesses, respectively.
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The rest include statutory transfers, non-debt recurrent costs, personnel cost, pensions, gratuities and overheads, sinking fund, amongst others.
He cautioned the lawmakers against budget padding and interference of some committees in the budget approval process. A practice he said “must stop.”
Buhari, therefore, directed the lawmakers to thoroughly consider the submitted copy of the appropriation bill and revert to the Presidency within the shortest probable time.
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