By Chibuike Nwabuko
Abuja (Sundiata Post) – The Senate Committee Chairman on Appropriation, Senator Jibrin Barau has justified the jack-up of the 2023 budget from N20.51 trillion to N21.83 trillion by the National Assembly.
Barau in an interview with journalists explained that the increase was in order and it was due to increase in revenue.
He emphasised that the decision of the two chambers of the National Assembly to increase the 2023 budget from N20.51 trillion to N21.83 trillion was done in collaboration with the executive arm of government.
In his words: “The increase was due to the increase in revenue. We did it in collaboration with the Executive Arm.”
Barau who noted that part of the 2023 budget will be funded through borrowing said he has no doubt that President Buhari will sign the 2023 Appropriation Bill into law at the right time.
According to the bill, N967.5 billion is for statutory transfers, N6.6 trillion for debt servicing, N8.3 trillion for recurrent expenditure, and N5.9 trillion for capital expenditure.
Sundiata Post recalls that the Senate and the House of Representatives on Wednesday passed the 2023 Appropriation Bill of N21.83 trillion indicating an increase of N1.32 trillion from the N20.51 trillion budget proposal sent to them by President Muhammadu Buhari.
