Nigeria’s 2023 Appropriation Bill Scales Second Reading

Nigeria’s 2023 Appropriation Bill Scales Second Reading

The 2023 appropriation bill of N20.5 trillion passed through the second reading in the Senate and the House of Representatives.
The upper chamber referred the bill to its Committee on Appropriation for further legislative action and expressed dissatisfaction over the rise in recurrent expenditure which is up from over 6 trillion nairas this year to over 8 trillion budgeted for next year.
The lawmakers say Nigeria cannot continue to borrow to fund 1 percent of its population. Subsequently, the Senate asked its committee to report back in four weeks.
It adjourned its sitting for the next four weeks to allow its various committees to work on the 2023 budget estimates as well as a budget defense by various ministries, departments, and agencies.

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