2023 Budget: FG Targets N1.92tn From Oil Revenue

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President Muhammadu Buhari, on Friday, presented a N20.15tn budget for the 2023 fiscal year.

The Federal Government also set a target of  N1.92tn earning from the oil revenues in 2023.

Buhari, who disclosed government plans for 2022,  while presenting the 2023 appropriation bill to a joint session of the National Assembly in Abuja, said the government would spend 

N6.31tn and N2.42tn of that amount on debt servicing and government owned enterprises, respectively.

The rest include statutory transfers, non-debt recurrent costs, personnel cost, pensions, gratuities and overheads, sinking fund, amongst others.

He also called for a halt in  the idea of budget padding and interference of some committees in the budget approval process. A practice he said “must stop.”

Buhari, also urged 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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