March 14, 2025
11 11 11 AM
CNG CONVERSION CENTRE REACHES ADVANCED STAGE IN BENUE STATE     
TOM IKIMI LED DISCIPLINARY COMMITTEE RECOMMENDS THE EXPULSION OF THE EMBATTLED NATIONAL SECRETARY OF PDP
ICPC ARRAIGNS SUSPENDED RURAL ELECTRIFICATION AGENCY’S EXECUTIVE DIRECTOR, ONE OTHER FOR N15M CONTRACT FRAUD 
GOVERNOR IDRIS DIRECTS FOR THE RESETTLEMENT OF VICTIMS OF LAKURAWA BANDITS ATTACK IN KEBBI 
EFCC PRESENTS THIRD WITNESS IN EX- KWARA GOVERNOR, FINANCE COMMISSIONER ALLEGED N5.78BN SUBEB FRAUD TRIAL 
MINISTER OF HEALTH AND AND SOCIAL CALLS FOR STRONGER COLLABORATION AMONG THE THREE TIERS OF GOVERNMENT       
HOUSE OF REPRESENTATIVES ORDERS IGP TO ARREST SOME FCDA OFFICIALS OVER ALLEGED BREACH of BUILDING CODE               
MATAWALLE DONATES ₦500 MILLION TO APC SUPPORTERS IN ZAMFARA FOR RAMADAN                                                                               
YUSUF SEEKS STRONGER ECONOMIC TIES BETWEEN KANO AND CHINA
KANO STATE HOUSE OF ASSEMBLY PASSES INFRASTRUCTURE MANAGEMENT AGENCY BILL

Minister says FG spent N12.87trn in 2022

Share

The Federal Government said it  spent N12.87 trillion against the N17.126 trillion budgeted for 2022 as at Nov. 30, 2022.

Mrs Zainab Ahmed, Minister of Finance, Budget and National Planning, said this at the Public Presentation and Breakdown of the Approved Federal Government 2023 Budget on Wednesday in Abuja.

Ahmed said out of the N12.87 trillion, N5.24 trillion was for debt service and N3.94 trillion was for personnel costs.

“The actual spending as of November 30 was N12.87 trillion.

“Of this amount, N5.24 trillion was for debt service; N3.94 trillion for Personnel Costs, including oensions; Statutory Transfers, Overhead and Service Wide Votes expenditures totalled N1.81 trillion; and N1.88 billion was released for capital expenditure.”

Meanwhile, the minister said the fiscal deficit for 2022 was estimated at N8.17 trillion, inclusive of the supplementary Budget.

She also added that as at Nov. 30, 2022, the deficit was N6.37 trillion.

“The deficit was totally financed by borrowings, mostly from domestic sources.”

President Muhammadu Buhari signed the 2023 Appropriation Bill of N21.83 trillion into law on Tuesday.

However, the National Assembly (NASS) passed the 2023 Budget on Dec. 28, 2022 after it was laid before a joint session of the NASS on Oct. 7, 2022.

The main aim of the 2023 Appropriation Act was to maintain fiscal viability and ensure smooth transition to an incoming administration.

The Act is aiso known as “Budget of Fiscal Consolidation and Transition’’.

Meanwhile, the Finance Bill 2022 was also passed to reinforce the administration’s public financial management reforms.

The Act is expected to make key reforms on tax laws and others.

0 0 votes
Article Rating

Leave a Reply

0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Home
Our Channel
About Us
Contact Us
0
Would love your thoughts, please comment.x
()
x