politics

Buhari Presents 2023 Budget to National Assembly

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President Muhammadu Buhari on Friday presented before the two chambers of the National Assembly, a record N20.51 trillion proposed budget for the 2023 financial year.

The N20.51 trillion budget which is the highest so far in the nation’s history, is the last to be presented by the president before his tenure elapses.

According to the president, this 8th financial blueprint of his administration is tagged the budget of Fiscal Sustainability and transition.

Buhari while addressing members of the parliament noted that the 2023 transition budget was designed to address critical issues and lay a solid foundation for the incoming administration.

He further noted that the national debt rose from N39.6tn in December 2021 to N42.8tn in June 2022 adding that the budget for the past year saw a deficit of N4.6tn, 63 per cent of the estimated deficit for the 2022 fiscal year.

Written by: Helen Obih

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