2023 Budget: Reps approve N21.82trn, allocate fresh N850m for Constitution Review

Domestic debts (including Ways and Means) get N4.49 trillion, N850m allocated to Constitution Amendment, while National Assembly severance package for 9th Assembly and inauguration of 10th Assembly (Legislators and Legislative Aides) to gulp N30.17 billion in budget
adminDecember 29, 20224 min

Domestic debts (including Ways and Means) get N4.49 trillion, N850m allocated to Constitution Amendment, while National Assembly severance package for 9th Assembly and inauguration of 10th Assembly (Legislators and Legislative Aides) to gulp N30.17 billion in budget

 

Budget

 

The House of Representatives has passed the 2023 Appropriation Budget of N21,827,188,747,391, marking an increase of N1,319,246,566,677 from the initial proposal of N20.5 trillion presented to the House by President Muhammadu Buhari in October.

This follows the consideration and approval of the House Committee on Appropriation report during Wednesday’s plenary by the House Committee on Supply chaired by the Deputy Speaker, Ahmed Idris Wase.

According to the approved legislation, N967.48 billion is for Statutory Transfers, N6.55 trillion is for Debt Service, N8.32 trillion is for Recurrent (non-debt) Expenditure, while the sum of N5.97 trillion is for contribution to the development fund for Capital Expenditure for the year ending on the 31st day of December 2023.

 

READ ALSO: Senate pass N819.54bn 2022 Supplementary Budget

 

Statutory Transfers

From the statutory transfers, the National Judicial Council (NJC) takes N165 billion; the Niger Delta Development Commission (NDDC) gets N119.93 billion, Universal Basic Education; N103.28 billion; Independent National Electoral Commission (INEC); N173.63 billion; National Human Right Commission (NHRC) N4.5 billion; North East Development Commission (NEDC); N59.03 billion; Basic Health Care Fund; N51.64 billion, and National Agency for Science and Engineering Infrastructure (NASENI); N51.64 billion.

Also, under the statutory transfers, the National Assembly severance package/Inauguration of outgoing and incoming 9th and 10th Assembly (Legislators and Legislative Aides) is allocated N30.17 billion, while the National Assembly Office gulps N30.49 billion; Senate; N33.26 billion, the House of Representatives; N51.99 billion; National Assembly Service Commission; N10.55 billion; National Institute for Legislative and Democratic Studies (NILDS); N7.41billion and Service Wide Vote; N671.3 million.

Further breakdown shows that the Office of Retired Clerks and Permanent Secretaries is allocated N1.05 billion, National Assembly Library Building; N4.25 billion; Constitution Review N850 million; Completion of NILDS Headquarters; N2.5 billion; Construction of the National Assembly Service Commission Building; N10 billion and Public Complaints Commission; N10.69 billion.

 

READ ALSO: Senate okays extension of 2022 Budget implementation

Debt

Similarly, debt service, domestic debts (including Ways and Means) gets N4.49 trillion; foreign debts is allocated N1.81 trillion; sinking fund to retire maturing loans takes N247.72 billion.

Recurrent Expenditure

Under recurrent expenditure (Non-debt), the Presidency is allocated N76.40 billion, Defence gets N1.09 trillion, the Ministry of Foreign Affairs; N93.68 billion, Federal Ministry of Information and Culture; N59.82 billion, Interior; N278.69 billion, Police Affairs; N777.40 billion, Communications and Digital Economy; N32.13 billion, National Security Adviser; N172.60 billion, and Secretary to the Government of the Federation (SGF) takes N70.08 billion.

Also, for the recurrent expenditure, Federal Ministry of Special Duties and Inter-Governmental Affairs gets N4.79 billion, Agriculture and Rural Development; N85.41 billion, Finance, Budget and National Planning; N29.99 billion, Industry, Trade and Investment; N16.82 billion; Labour and Employment; N15.52 billion, Science, Technology and Innovation; N52.33 billion, Transport; N18.01 billion, Aviation; N9.43 billion, Petroleum Resources; N33.15 billion and Works and Housing; N34.98 billion.

Capital Expenditure

For the capital expenditure, The Presidency is allocated N20.11 billion, Defence gets N285 billion, Foreign Affairs; N5.85 billion, Information & Culture; N11.87 billion; Interior N45.62 billion; Police N60.64 billion; National Security Adviser; N70.33 billion, Agriculture and Rural Development; N248.35 billion, Finance, Budget and National Planning; N166.74 billion.

Further breakdown of the capital expenditure indicated that Science, Technology and Innovation is allocated N132.57 billion; Transport; N74.26 billion; Aviation; N49.41 billion; Power; N56.14 billion; Works and Housing; N398.27 billion, Federal Capital Territory Administration (FCTA); N15.47 billion; Education; N153.73 billion; Health; N134.90 billion, and Humanitarian Affairs, Disaster Management and Social Development; N32.05 billion.

 

 

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