The 2023 appropriation bill of N20.5 trillion on Wednesday passed through the second reading in the Senate and the House of Representatives, IgbereTV reports
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 naira this year to over 8 trillion budgeted for next year.
According to the lawmakers, Nigeria cannot continue to borrow to fund 1 percent of its population. Subsequently, the Senate asked its committee to report back in four weeks.
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 defence by various ministries, departments, and agencies.
The Senate will reconvene plenary on November 15, except if there is an emergency.
Similarly, in the lower chamber, the lawmakers commended President Muhammadu Buhari for the Intervention Fund for the Academic Staff Union of Universities, as well as the improvement in the budget of the judiciary.
They, however, questioned the parameters which are to fund the budget, describing them as unrealistic
