Except for any last-minute change, President Muhammadu Buhari will on Friday present the N19.76 trillion 2023 Budget to the National Assembly in Abuja.
The presentation will take place 10am at the temporary chamber of House of Representatives, according to information from presidency sources.
Key highlights of the financial estimates to be presented to the joint session of the National Assembly, it was learned include the over N11 trillion loan proposal by the Buhari administration to fund the budget deficit.
President Buhari will request that the Assembly approve N19.76 trillion as 2023 Budget, details from the Ministry of Finance suggest.
Speaking earlier on the budget proposal, the minister of Finance Zainab Ahmed said, the “Federal Government’s 2023 aggregate expenditure is estimated at N19.76 trillion (inclusive of GOEs). In this scenario, the budget deficit is projected to be N11.30 trillion in 2023, up from N7.35 trillion in 2022.
“This represents 5.01 percent of the estimated GDP, above the three percent threshold stipulated in the Fiscal Responsibility Act, 2007,” the minister noted.
