Nigeria’s President Muhammadu Buhari is expected to present the 2023 Budget to the National Assembly in October.
This was disclosed by Speaker of the House of Representatives, Femi Gbajabiamila in a press briefing on Wednesday.
Nigeria’s Finance Minister stated that the proposed 2023 budget of N19.76 trillion is embedded with an N12.43 trillion deficit.
What the Speaker is saying
Femi Gbajabiamila disclosed that he is hoping that the budget will be presented, latest by the first week of October.
“I am hoping that the budget will be presented latest by first week of October,” he said.
The speaker said that configuration of the temporary chamber would be done, ahead of the September 20 date for the resumption of plenary.
“I can see everybody upstairs, everybody presiding can see everybody upstairs and can see everybody downstairs.
“Where we are right now, it will be ready on Tuesday, this work started in August, and it started few weeks behind time but for a good reason.
“So far, between August and now, giant strides have been made. You can see the old chamber has been ripped apart,” he said.
He added that the new renovations will match the best standard all over the world; I am quite impressed with the work so far and I will encourage them to double the pace.
What you should know
- Nairametrics reported earlier that Zainab Ahmed, the Minister of Finance, Budget and Planning has said that the proposed 2023 budget of N19.76 trillion is embedded with an N12.43 trillion deficit.
- She said this in an interactive session with members of the Senate Committee on Finance and heads of revenue-generating agencies in Abuja on Tuesday.
- According to her, the N12.43 trillion deficit is a result of the projected N6 trillion tax and import duty waivers as well as fuel subsidy of over N6 trillion that was retained for the year.