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.<br />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.<br />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.<br />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.