Buhari to spend N1.633bn on International travels, N1.9bn on rent

Buhari To Unveil Redesigned Naira Notes At FEC Meeting today

If the 2023 appropriation bill currently with the National Assembly is passed as proposed, the Presidency would be spending N1,977,909,924 on sewage disposal, water, internet, books, newspapers, foodstuff and refreshments among other items during the year.

According to the document presented to the joint session of the National Assembly by President Muhammadu Buhari last week, sewage, water, internet, books, newspapers have a cumulative bill of N423,366,852, while foodstuffs and catering will gulp N245,143,963.

The  presidency is also budgeting about N104,861,276 for the maintenance of office buildings and residential quarters. 

Rent is to gulp N76,699,965, while N1,118,837,869 was earmarked for miscellaneous expenses.

Read:  Despite challenges, UBA leads banking sector in CAR, liquidity ratio

Under this, there is N498,313,996 is for honorarium and sitting allowance, N21,321,160 for medical expenses, N4 million for postages and courier services, N388,730,180 for welfare packages, N20,187,032 for sporting activities, N8 million for anti-corruption, among others.

The government is to spend N181,406,401 on wildlife conservation, other capital projects N272,980,745 and computer software acquisition-N237,255,745.

Specifically, President Muhammadu Buhari would spend N393,661,239 on the ongoing construction of the presidential wing at the state house medical centre, while his international travel allocation is N1,633,464,208.

For the office of the Vice President, N156,662,400 is for food and catering services supply, N516,286,701 for international travels and local travels, N330,320,396.

Meanwhile, the State House will spend N67,950,392 on motor fueland another N388,730,180 on staff welfare packages.

Read:  Trading Value Dips 52% as Investors Stake N9bn

Furthermore, a total of N104,861,276 is proposed for maintenance of office furniture and about N1,904,388,461 would be spent to purchase vehicles.

Besides, the Federal Government will spend N104,861,276 to maintain office buildings and residential quarters in the Villa whereas N9,68,987 will go for maintenance of furniture.

President Muhammadu Buhari, had at the weekend, said that the 2023 Budget was  based on some  fiscal assumptions and parameters and that  the total federally-collectible revenue is estimated at N16.87 trillion  in 2023.

Read:  Stanbic IBTC deepens investors’ participation in stock market

Also, a total federally distributable revenue is estimated at N11.09 trillion  in 2023, while a total revenue available to fund the 2023 Federal Budget is estimated at N9.73 trillion.

“This includes the revenues of 63 Government-Owned Enterprises, with Oil revenue projected at N1.92 trillion, non-oil taxes are estimated at N2.43 trillion, and Federal Government (FGN)  independent revenues projected to be N2.21 trillion. Other revenues total are put at N762 billion, while the retained revenues of the  Government-Owned Enterprises (GOEs) amount to N2.42 trillion.


Related posts

NASCON records N2.7bn profit after tax, pays N1.1bn dividend


Shell pays FG over $4.5bn in royalties, taxes, others to Nigeria


Investors gain N150bn as Nigerian stocks cut losses


Access Bank’s $500m Eurobond oversubscribed by 200%.


Naira exchange rates December 2021


Sterling Bank grows profit by 29%


Leave a Comment