President Muhammadu Buhari presented before the two chambers of the National Assembly, a record N20.51 trillion proposed budget for the 2023 financial year.
The N20.51 trillion budget which is the highest so far in the nation’s history is the last to be presented by the president before his tenure elapses.
The president says this 8th financial blueprint of his administration has tagged the budget of Fiscal Sustainability and transition.
Buhari noted that the 2023 transition budget was designed to address critical issues and lay a solid foundation for the incoming administration.
The president said he believes that based on these fiscal assumptions and parameters, total federally-collectible revenue is estimated at 16.87 trillion Naira in 2023.
He further stated that the total federally distributable revenue is estimated at 11.09 trillion Naira in 2023, while the total revenue available to fund the 2023 Federal Budget is estimated at 9.73 trillion Naira.