While speaking via a live broadcast on Tuesday, January 3, 2023, President Muhammadu Buhari disclosed that he has signed the N21.8 trillion 2023 budget into law.
The President signed the 2023 N21.83 trillion Appropriation Bill and 2022 Supplementary Appropriation Bill into law. The President claimed that by signing, the execution of the 2023 budget will not be delayed.
He pleaded with the National Assembly to rethink its judgement over his administration’s request for a N23.7 trillion “ways and means” loan.
Additionally, Buhari gave the government’s Ministries, Departments, Agencies, and institutions the order to speed up the process of revenue generation.
“As this administration draws to a close, we will accelerate the implementation of critical measures aimed at further improving the Nigeria business environment and ensuring the welfare of our people,” he stated.
The Senate had previously passed the budget for the 2023 fiscal year.
The budget was increased from N20.5 trillion, presented by Buhari in October, to N21.8 trillion.