Budget
2023 Appropriation Act (Budget of Fiscal Consolidation and Transition) — appropriated, revised, and what has actually been spent.
Appropriated
₦21.8tn
After revisions
₦24.0tn
Revision
+₦2.2tn
Spent to date
₦23.0tn
Still unspent
₦970.4bn
Execution against the revised budget
96% spent- Original appropriation
- ₦21.8tn
- Supplementary
- +₦2.2tn+10%
- Released
- ₦23.0tn
- Unspent balance
- ₦970.4bn
- Projected revenue
- ₦11.0tn
- Deficit
- ₦13.8tn
- Debt service
- ₦6.6tn
- Statutory transfers
- ₦985.5bn
- Recurrent (non-debt)
- ₦9.3tn
- Capital
- ₦8.0tn
- Oil benchmark
- $75 / barrel
- Oil production
- 1.69 million b/d
- Exchange rate
- ₦435.57 / $
Signed by President Buhari on 3 Jan 2023 (N21.83tn, rounded as reported by press; the Budget Office per-head tables used here cover only the executive heads). Supplementary appropriation of N2,176,791,286,033 signed by President Tinubu (press: on a Wednesday shortly before 27 Nov 2023; the brief referenced December, not confirmed). totalRevised = 21.83tn + 2,176,791,286,033. totalSpent = actual aggregate FGN expenditure N23,036.39bn per Budget Office Q4 2023 BIR Table 3.9 (a later Budget Office "2023 Budget Performance" sheet shows N18,802.14bn against a N24,823.52bn aggregate budget; the two differ and the Q4 BIR figure is recorded). Capital line spent = OAGF capital releases cash-backed (BIR Appendix 1, 62 MDAs). Highlights are the Budget Office Q4 2023 BIR "2023 approved budget" column (aggregate incl. GOEs and project-tied loans where stated); oil benchmark US$75/bbl, 1.69 mbpd and N435.57 per US$ per BIR Table 3.1.
Published 3 January 2023 · 101 line items
Year on year