President Muhammadu Buhari signs 2023 budget into law

The Nigerian government’s budget for 2023, totalling N21.8 trillion, has been signed into law by President Muhammadu Buhari.

Buhari revealed the information on Tuesday during a live broadcast.

The President has stated that the signing will prevent the execution of the 2023 budget from being pushed back.

After the National Assembly rejected his administration’s request for a ‘ways and means’ loan of N23.7 trillion, he pleaded with them to rethink their decision.

In addition, Buhari ordered the government’s many departments, agencies, and other organisations to step up their efforts to generate revenue.

“As this administration draws to a close, we will accelerate the implementation of critical measures aimed at further improving the Nigeria business environment and ensuring the welfare of our people,” he stated.

The Senate already approved the budget for the fiscal year 2023.

Buhari first proposed a budget of N20.5 trillion in October, but further revisions have brought that number up to N21.8 trillion.