Buhari Presents N20.5 trn Budget to National Assembly
President Muhammad Buhari on Friday at the National Assembly presented N20.5 trillion 2023 Appropriation Bill.
The Budget which will be his last to be presented as the tenure elapses on May 19, 2023.
The Federal Government planned to spend N20.5 trillion in 2023, a 15.37 percent increase from the amount earmarked in the 2022 budget as well as a projected deficit of N11.30 trillion.
The presentation took place at the improvised House of representative Chamber.
In his address, President Muhammadu Buhari said this is the last time he will he laying the budget.
“As I address this session for the last time, let me highlight the progress made so far, we have made transformation adjustment in infrastructure development.
“We have facilitated the completion of Second Niger Bridge, Lagos-Ibadan Expressway and Abuja -Kaduna road. We have used tax credit to facilitate several roads”
The President also spoke about clean and sustainable power intervention in schools and markets. He noted that in terms of good governance, successive governments failed to drive reforms.
He stated that the government is working to bequeath reforms of public sector in incoming government.
Mr President said the achievement have only been possible because of the collaboration of the National Assembly. He said the 2023 budget was prepared amid challenging environment due to global instability
He highlighted the 3.5% GDP growth in the last quarter. Adding that the fiscal policy of the government helped to address inflation
He acknowledged the high unemployment rate noting that the various interventions will help youth with skill.
