{"id":238041,"date":"2022-12-28T23:17:31","date_gmt":"2022-12-28T22:17:31","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=238041"},"modified":"2022-12-28T23:17:31","modified_gmt":"2022-12-28T22:17:31","slug":"senate-passes-n21-8trn-2023-budget","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2022\/12\/28\/senate-passes-n21-8trn-2023-budget\/","title":{"rendered":"Senate passes N21.8trn 2023 budget"},"content":{"rendered":"<p>The Senate on Wednesday, passed the N21.8 trillion 2023 budget.<\/p>\n<p>This followed the adoption of the report of the Senate Committee on Appropriation at plenary.<\/p>\n<p>Presenting the report, the Chairman of the Committee, Sen. Jibrin Barau said that the commitee did a thorough job by examining inputs from its sub-committees before reaching the final figure.<\/p>\n<p>\u201cWe hereby recommend that the Senate do consider and approve a Bill for an Act to authorise the issue from the Consolidated Revenue Fund (CFR) of the Federation the total sum of N21.8 trillion.<\/p>\n<p>\u201cOf which N967 billion is for Statutory Transfers, N6.5 billion only is for debt service. N8.3 trillion is for recurrent (Non-Debt) expenditure.<\/p>\n<p>\u201cWhile N5.9 trillion for contribution to the Development Fund for Capital Expenditure for the year ending December 2023,\u201d he said.<\/p>\n<p>He said that the budget was raised from the N20.5 trillion submitted by the Executive by N1.3 trillion.<\/p>\n<p>Barau said that President Muhammadu Buhari had on Oct. 7, laid before a joint sitting of the National Assembly the <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/12\/17\/uzodimma-presents-n381bn-budget-for-2022\/\">2023 Appropriation Bill<\/a> christened \u201cBudget of Fiscal Consolidation and Transition\u201d.<\/p>\n<p>He said that the President had proposed an oil price benchmark of 70 dollars, which was raised to 75 dollars by the National Assembly.<\/p>\n<p>\u201cThe Executive proposed an exchange rate of N435.57 to a dollar while the national assembly approved same,\u201d he said.<\/p>\n<p>In his remarks, Senate President Ahmad Lawan, said that the passage of the budget was in line with the National Assembly\u2019s pledge to reverse to the January- December budget cycle.<\/p>\n<p>\u201cThis our fourth budget and last before the expiration of our tenure and we have kept that promise,\u201d he said.<\/p>\n<p>Lawan also urged the executive to strive hard to implement the 2022 supplementary budget.<\/p>\n<p>\u201cWe have also passed the supplementary budget for 2022. We expect total implementation. No selective implementation,\u201d Lawan said.<\/p>\n<p style=\"padding-left: 40px\">Meanwhile, the Senate has adjourned plenary until Jan. 17, 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Senate on Wednesday, passed the N21.8 trillion 2023 budget. This followed the adoption of the report of the Senate Committee on Appropriation at plenary. Presenting the report, the Chairman of the Committee, Sen. Jibrin Barau said that the commitee did a thorough job by examining inputs from its sub-committees before reaching the final figure. [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":196439,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"custom","single_blog_custom":"211693","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"single-left","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"floatbottom","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"1","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"0","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_override_bookmark_settings":{"override_bookmark_button":"0","override_show_bookmark_button":"0"},"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[2],"tags":[43446,53872,53871,588],"class_list":["post-238041","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-2023-budget","tag-n21-8trn-budget","tag-passes-bill","tag-senate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Senate passes N21.8trn 2023 budget<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2022\/12\/28\/senate-passes-n21-8trn-2023-budget\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Senate passes N21.8trn 2023 budget\" \/>\n<meta property=\"og:description\" content=\"The Senate on Wednesday, passed the N21.8 trillion 2023 budget. This followed the adoption of the report of the Senate Committee on Appropriation at\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.withinnigeria.com\/news\/2022\/12\/28\/senate-passes-n21-8trn-2023-budget\/\" \/>\n<meta property=\"og:site_name\" content=\"NEWS PICKS \u2014 WITHIN NIGERIA\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/facebook.com\/withinnigeria\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-28T22:17:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.withinnigeria.com\/news\/wp-content\/uploads\/sites\/5\/2022\/06\/chioma_adebiyi\/2022\/06\/15\/Senate-1-1536x899-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1536\" \/>\n\t<meta property=\"og:image:height\" content=\"899\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Davies Ngere Ify\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" 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