Reps approves N21 trillion Appropriation Bill for 2023
The House of Representatives on Wednesday approved the 2023 Appropriations Bill, increasing the total estimates from N20.51tn to N21,827,188,747,391.
The appropriation bill was passed after the report by the House Committee on Appropriations was deliberated and adopted by at its Wednesday plenary.
Earlier on Wednesday, the House passed the 2022 Finance Bill, 2022 Supplementary Appropriation Bill, and Appropriation Act 2022 (Amendment) Bill, which extended the implementation of this year’s capital expenditure component to March 31, 2023.
Also on Wednesday, the senate approved the N819.5 billion supplemental budget for 2022.
The upper chamber claims that the revision to the 2022 Appropriation Act is necessary to guarantee the execution of the Act’s major capital project, which is currently unfunded.
The Senate deemed it necessary to extend capital projects in order to avoid the issue of abandoned projects.
The Ministry of Agriculture will receive N69 billion, the Ministry of Water Resources will receive N15.5 billion, the Federal Capital Territory will receive N30 billion, and the Ministry of Works and Housing will receive N704 billion, according to a breakdown of the supplementary budget in the report by the Committee of Finance.
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