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.
The remaining expenses include, among others, sinking fund, statutory transfers, non-debt recurrent costs, employee costs, pensions, gratuities, and overheads. He forewarned the lawmakers about budget padding and committee meddling throughout the budget approval procedure. He argued that it "must end," Buhari instructed the MPs to carefully review the copy of the appropriation bill that had been presented and get back to the presidency as soon as possible.
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