Muhammad Buhari who spoke at the signing of the eighth and final annual budget of his administration on Tuesday, January 3, said the aggregate expenditures of N21.83 trillion, is an increase of N1.32 trillion over the initial Executive Proposal for a total expenditure of N20.51 trillion.
He said, the 2023 budget provides for aggregate expenditures of N21.83 trillion, an increase of N1.32 trillion over the initial executive proposal for a total expenditure of N20.51 trillion.
Buhari also said the minister of finance, budget and national planning would subsequently provide more details of the approved budget and the supporting 2022 finance act.
He said;
”We have examined the changes made by the National Assembly to the 2023 Executive Budget proposal.
”The amended fiscal framework for 2023 as approved by the National Assembly shows additional revenues of N765.79 billion and an unfunded deficit of N553.46 billion.
”It is clear that the National Assembly and the executive need to capture some of the proposed additional revenue sources in the fiscal framework. This must be rectified.
”I have also noted that the National Assembly introduced new projects into the 2023 budget proposal for which it has appropriated N770.72 billion. The National Assembly also increased the provisions made by Ministries, Departments and Agencies (MDAs) by N58.55 billion.”
Buhari also urged the National Assembly to reconsider its position on his proposal to securitize the Federal Government’s outstanding Ways and Means of balance at the Central Bank of Nigeria (CBN).
