President Muhammadu Buhari on Friday at the National Assembly has presented N19.76TRN 2023 Appropriation Bill.
DAILY GIST reports that the budget will be the last to be presented by Buhari as his tenure elapses on May 19, 2023
The federal government planned to spend N19.76 trillion in 2023, a 15.37 percent increase from the amount earmarked in the 2022 budget as well as a projected deficit of N11.30 trillion.
The presentation is taking place at the improvised House of Representatives chamber.
In his address, President Buhari said this is the last time he will be laying the budget.
He said: “As I address this session for the last time, let me highlight the progress made so far. We have made transformation adjustment in infrastructure development.
We have facilitated the completion of Second Niger Bridge, Lagos-Ibadan Express Way and Abuja-Kaduna Kano road. We have used tax credit to facilitate several roads.
The president also spoke about clean and sustainable power interventions in schools and markets.
He noted that in terms of good governance, successive governments failed to drive reforms.
He stated that the government is working to bequeath reforms of public sector on incoming government.
Mr President said the achievements have only been possible because of the collaboration of the National Assembly.
He said the 2023 budget was prepared amid challenging environment due to the global instability.
He highlighted the 3.5 % GDP growth in the last quarter. Adding that the fiscal policy of the government helped to address inflation.
Mr Buhari acknowledged the high unemployment, noting that ongoing interventions will help youth with skill.
More details to follow….