Nigeria President Muhammadu Buhari on Tuesday , January 3rd, 2023 signed into law an Appropriation Bill, totalling N21.83 trillion as the country budget for the year.
Buhari who is leaving the office on May 29, this year at the end of his four years two term tenure signed the bill at the Council Chambers of the State House in Abuja.
He signed the appropriation law six days after the National Assembly passed the bill.
The budget represents an increase of N1.32 trillion from the N20.51 trillion budget proposal of President Muhammadu Buhari.
A breakdown of the budget indicates an allocation of N967.5 billion for statutory transfers, N6.6 trillion for debt servicing, N8.3 trillion for recurrent expenditure, and N5.9 trillion for capital expenditure.
The 2023 Appropriation Bill was deferred two weeks ago over what the Senate President described as problems discovered in it.
The 9th National Assembly had passed its final appropriation bill hopeful of maintaining the January-to-December budget cycle which in the circumstances of the country general election, a new government will execute half of the budget from June.