REPS PASS 2023 BUDGET, RAISE ESTIMATES TO N21.8TN

The House of Representatives has passed the 2023 Appropriation Bill, raising the total estimates from the proposed N20.51tn to N21.8tn

Passage of the Federal Government budget followed the consideration and adoption of the report by the House Committee on Appropriations on the bill at the plenary today.

The House had earlier passed the 2022 Finance Bill, 2022 Supplementary Appropriation Bill and Appropriation Act 2022 (Amendment) Bill which extended implementation of the capital expenditure component of this year’s budget to March 31, 2023.

The National Assembly, which was to pass the budget last week, had delayed passage of the 2023 Appropriation Bill till this week.

Several lawmakers had last week blamed the delay on the 2022 Finance Bill and Supplementary Appropriation Bill recently transmitted to the National Assembly for consideration and passage.

President Muhammadu Buhari had only on Wednesday last week transmitted the Finance Bill to the National Assembly, while the Supplementary Appropriation Bill was received by the parliament on Thursday, same day the lawmakers planned to pass the 2023 budget and close for the year.