The Senate, on Wednesday, passed the N20.51tn 2023 budget for second reading. The budget was presented to the joint session of the National Assembly last Friday. The passage of the appropriation bill by the upper legislative chamber for second reading followed the debate on its general principles by Senators, many of whom frowned at the rising recurrent expenditure component national budget on yearly basis.
In his contribution to the debate, Senator Ali Ndume (APC Borno South) sought a thorough investigation into the rising recurrent expenditure despite the embargo placed on employment by the Federal Government and hundreds of retirees recorded on yearly basis.
According to him, the N8.2tn earmarked for recurrent expenditure in the proposed N20.51tn 2023 budget constitutes 43 per cent of the entire budget profile. Ndume posited, “Mr. President, our relevant committees should thoroughly scrutinize proposals made in the N20.51tn 2023 budget by the executive, particularly the recurrent expenditure component which has been rising on yearly basis.
“Statistically, in the 2018 budget recurrent expenditure vote was N3.5tn, in 2019 it increased to N4.7tn, rose again in 2020 to N4.8tn, in 2021; N5.9tn, 2022 N6.9tn and astronomically projected as N8.2trillion for the 2023 fiscal year.
