President Muhammadu Buhari today presented a draft budget estimate of N20.5 trillion for the 2023 fiscal year to a Joint Session of the National Assembly.
Presenting the budget breakdown today to Lawmakers at the National Assembly in Abuja, President Buhari said N5.35 trillion will be spent on Capital Projects while Recurrent Expenditure will gulp N8.27 trillion, total federally distributable revenue is estimated at 11.09 trillion Naira in 2023, while total revenue available to fund the 2023 Federal Budget is estimated at 9.73 trillion Naira.
The 2023 Budget estimate is predicated on a crude oil benchmark of 70 dollars per barrel and an exchange rate of N435 per dollar.
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32FM 94.9