• About Us
  • Terms & Conditions
  • Contact Us
Saturday, June 10, 2023
Investogist
No Result
View All Result
  • Home
  • News
    • All
    • Africa
    • Nigeria
    • World
    EU member states agree on deal to overhaul key asylum and migration laws

    EU member states agree on deal to overhaul key asylum and migration laws

    Buhari to unveil new naira notes Wednesday — no longer Dec 15

    BREAKING: DSS arrests Emefiele after suspension

    Emefiele to be let in without arrest, expected to resign

    BREAKING: Tinubu suspends Emefiele as CBN governor

    EFCC seeks transfer of Orji Uzor Kalu’s trial to Lagos

    EFCC arrests 52 suspected internet fraudsters in Ogun

    Tinubu is my president, never knew he’s so intelligent – Abia Labour Party Rep-elect

    Tinubu is my president, never knew he’s so intelligent – Abia Labour Party Rep-elect

    LASTMA debunks report of Sanwo-Olu banning arrest of motorists

    LASTMA debunks report of Sanwo-Olu banning arrest of motorists

    22,500 children died in Lagos due to air pollution in 2021— LASEPA

    Lagos belongs to Yorubas; lawmakers will pass new ‘property laws, reverse all the reversible to protect indigenes’ interest’: Speaker Obasa

    Bolt, Uber drivers, others begin nationwide strike, demand 200% increment in fares

    Bolt, Uber drivers, others begin nationwide strike, demand 200% increment in fares

    U.S knew of Ukraine’s plan to attack Nord Stream pipeline – Media Report

    U.S knew of Ukraine’s plan to attack Nord Stream pipeline – Media Report

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Details of 2023 Budget parameters, revenue estimate, expenditure, fiscal balance

    2023 Budget: List of most expensive Zonal Intervention Projects by FG, states with highest allocation

    How to obtain foreign currency from Teller Points at Bank branches

    We did not devalue Naira – CBN

    How to obtain foreign currency from Teller Points at Bank branches

    CBN Devalues Naira to 630/US$1 at the I&E Window – Reports

    Senate sits on Saturday, increases Ways and Means borrowing from 5% to 15%

    Senate sits on Saturday, increases Ways and Means borrowing from 5% to 15%

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    BREAKING: CBN raises interest rate to 18.5% amid rising inflation

    JUST IN: Nigeria’s inflation rate hits 19.64% – highest since 2005.

    Inflation rate hits 22.22% in April, highest in 14 years

    Telcos kick as FG plan 12.5% call tax

    FG re-introduces 5% excise duty on telecom services in new fiscal policy

    Headline Inflation in Nigeria rose to 22.04% in March

    Headline Inflation in Nigeria rose to 22.04% in March

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rose to N46.25 trillion in 2022, 84.73% of bilateral debt owed to China

    • Policies
    • Budgets
    • Economic Data
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX- ASI declined by 0.03% as Union Bank loses 8.86%

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2023, qualification and payment dates

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX- ASI Declined by 0.03%, as volume traded declined by 18.87%

    Again DMO offers N360 billion FGN bond for February

    FGN Savings Bond interest rates slide in June

    Local Bourse closed in Bullish Territory… As NGX-ASI at 0.31%

    The NGX- ASI gained 5.22% on bullish performance

    FY 2020: Unilever Nigeria Plc remains in loss despite revenue growth

    The NGX- ASI increased by 0.48% as Unilever gained 9.70%

    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    The NGX- ASI increased by 0.35% despite negative market sentiment

    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    The NGX- ASI Gained 0.31% as NB rose another 9.63%

    FY 2020: Nigerian Breweries Plc reports 54.3% decline in profit

    The NGX- ASI Increased By 0.36% as NB rises 9.97%

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    Q3 2023 Earnings: Linkage Assurance Plc forecasts N1.25bn Profit after Tax

    Q3 2023 Earnings: Linkage Assurance Plc forecasts N1.25bn Profit after Tax

    Lasaco Assurance Plc to pay Dividend of 15 kobo to Shareholders for 2022 FYI

    Lasaco Assurance Plc to pay Dividend of 15 kobo to Shareholders for 2022 FYI

    Equities Market Recorded Gains… As NGX-ASI Grows Marginally By 0.02%

    BUA Cement Plc gets $500 million loan facility from IFC and partners

    FBN Holdings Plc announces 50 kobo final Dividend for 2022 Financial Year

    FBN Holdings Plc announces 50 kobo final Dividend for 2022 Financial Year

    First Bank’s parent company reports N136.3bn profit for 2022, to pay dividend

    First Bank’s parent company reports N136.3bn profit for 2022, to pay dividend

    Nigerian Breweries presented offer to acquire Chamdor and Amarula producer

    Nigerian Breweries presented offer to acquire Chamdor and Amarula producer

    Breaking: NNPC releases statement on fuel price adjustment

    Breaking: NNPC releases statement on fuel price adjustment

    Oando kicks-off test of electric vehicles for mass transportation in Lagos

    Oando kicks-off test of electric vehicles for mass transportation in Lagos

    Seplat says ‘no official notification’ on Buhari’s reversal of approval for ExxonMobil deal

    Seplat extends, revises Mobil Producing Nigeria purchase deal

    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    North-West, South-West lead as INEC registers 96.2 million, Rivers overtakes Katsina

    ELECTION: How to check your polling unit, code online

    4 things to consider before buying a laptop

    4 things to consider before buying a laptop

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 2

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies
  • Home
  • News
    • All
    • Africa
    • Nigeria
    • World
    EU member states agree on deal to overhaul key asylum and migration laws

    EU member states agree on deal to overhaul key asylum and migration laws

    Buhari to unveil new naira notes Wednesday — no longer Dec 15

    BREAKING: DSS arrests Emefiele after suspension

    Emefiele to be let in without arrest, expected to resign

    BREAKING: Tinubu suspends Emefiele as CBN governor

    EFCC seeks transfer of Orji Uzor Kalu’s trial to Lagos

    EFCC arrests 52 suspected internet fraudsters in Ogun

    Tinubu is my president, never knew he’s so intelligent – Abia Labour Party Rep-elect

    Tinubu is my president, never knew he’s so intelligent – Abia Labour Party Rep-elect

    LASTMA debunks report of Sanwo-Olu banning arrest of motorists

    LASTMA debunks report of Sanwo-Olu banning arrest of motorists

    22,500 children died in Lagos due to air pollution in 2021— LASEPA

    Lagos belongs to Yorubas; lawmakers will pass new ‘property laws, reverse all the reversible to protect indigenes’ interest’: Speaker Obasa

    Bolt, Uber drivers, others begin nationwide strike, demand 200% increment in fares

    Bolt, Uber drivers, others begin nationwide strike, demand 200% increment in fares

    U.S knew of Ukraine’s plan to attack Nord Stream pipeline – Media Report

    U.S knew of Ukraine’s plan to attack Nord Stream pipeline – Media Report

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Details of 2023 Budget parameters, revenue estimate, expenditure, fiscal balance

    2023 Budget: List of most expensive Zonal Intervention Projects by FG, states with highest allocation

    How to obtain foreign currency from Teller Points at Bank branches

    We did not devalue Naira – CBN

    How to obtain foreign currency from Teller Points at Bank branches

    CBN Devalues Naira to 630/US$1 at the I&E Window – Reports

    Senate sits on Saturday, increases Ways and Means borrowing from 5% to 15%

    Senate sits on Saturday, increases Ways and Means borrowing from 5% to 15%

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    BREAKING: CBN raises interest rate to 18.5% amid rising inflation

    JUST IN: Nigeria’s inflation rate hits 19.64% – highest since 2005.

    Inflation rate hits 22.22% in April, highest in 14 years

    Telcos kick as FG plan 12.5% call tax

    FG re-introduces 5% excise duty on telecom services in new fiscal policy

    Headline Inflation in Nigeria rose to 22.04% in March

    Headline Inflation in Nigeria rose to 22.04% in March

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rose to N46.25 trillion in 2022, 84.73% of bilateral debt owed to China

    • Policies
    • Budgets
    • Economic Data
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX- ASI declined by 0.03% as Union Bank loses 8.86%

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2023, qualification and payment dates

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX- ASI Declined by 0.03%, as volume traded declined by 18.87%

    Again DMO offers N360 billion FGN bond for February

    FGN Savings Bond interest rates slide in June

    Local Bourse closed in Bullish Territory… As NGX-ASI at 0.31%

    The NGX- ASI gained 5.22% on bullish performance

    FY 2020: Unilever Nigeria Plc remains in loss despite revenue growth

    The NGX- ASI increased by 0.48% as Unilever gained 9.70%

    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    The NGX- ASI increased by 0.35% despite negative market sentiment

    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    The NGX- ASI Gained 0.31% as NB rose another 9.63%

    FY 2020: Nigerian Breweries Plc reports 54.3% decline in profit

    The NGX- ASI Increased By 0.36% as NB rises 9.97%

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    Q3 2023 Earnings: Linkage Assurance Plc forecasts N1.25bn Profit after Tax

    Q3 2023 Earnings: Linkage Assurance Plc forecasts N1.25bn Profit after Tax

    Lasaco Assurance Plc to pay Dividend of 15 kobo to Shareholders for 2022 FYI

    Lasaco Assurance Plc to pay Dividend of 15 kobo to Shareholders for 2022 FYI

    Equities Market Recorded Gains… As NGX-ASI Grows Marginally By 0.02%

    BUA Cement Plc gets $500 million loan facility from IFC and partners

    FBN Holdings Plc announces 50 kobo final Dividend for 2022 Financial Year

    FBN Holdings Plc announces 50 kobo final Dividend for 2022 Financial Year

    First Bank’s parent company reports N136.3bn profit for 2022, to pay dividend

    First Bank’s parent company reports N136.3bn profit for 2022, to pay dividend

    Nigerian Breweries presented offer to acquire Chamdor and Amarula producer

    Nigerian Breweries presented offer to acquire Chamdor and Amarula producer

    Breaking: NNPC releases statement on fuel price adjustment

    Breaking: NNPC releases statement on fuel price adjustment

    Oando kicks-off test of electric vehicles for mass transportation in Lagos

    Oando kicks-off test of electric vehicles for mass transportation in Lagos

    Seplat says ‘no official notification’ on Buhari’s reversal of approval for ExxonMobil deal

    Seplat extends, revises Mobil Producing Nigeria purchase deal

    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    North-West, South-West lead as INEC registers 96.2 million, Rivers overtakes Katsina

    ELECTION: How to check your polling unit, code online

    4 things to consider before buying a laptop

    4 things to consider before buying a laptop

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 2

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies
No Result
View All Result
Investogist
No Result
View All Result
Home Economy Budgets

Details of 2023 Budget parameters, revenue estimate, expenditure, fiscal balance

Friday, 7 October 2022, 1:16 pm
in Budgets, Economy
0
Details of 2023 Budget parameters, revenue estimate, expenditure, fiscal balance
Share Share Share Share Send as Email

President Muhammadu Buhari on Friday arrived at a joint session of the National Assembly amid tight security to present the 2023 Appropriation Bill.

The N20.51 trillion budget is the last budget he will present before his tenure elapses in 2023.

The budget which shows over 15 per cent increase from the amount budgeted in 2022 is tagged the budget of Fiscal Sustainability and transition, according to the president.

Below are 2023 budget parameters and fiscal assumptions, revenue estimates and expenditure as contained in president Buhari’s 2023 budget presentation speech.

2023 BUDGET PARAMETERS AND FISCAL ASSUMPTIONS

41. Distinguished Members of the National Assembly, the 2023 to 2025 Medium Term Expenditure Framework and Fiscal Strategy Paper sets out the parameters for the 2023 Budget as follows:
a. Oil price benchmark of 70 US Dollars per barrel;
b. Daily oil production estimate of 1.69 million barrels (inclusive of Condensates of 300,000 to 400,000 barrels per day);
c. Exchange rate of 435.57 Naira per US Dollar; and
d. Projected GDP growth rate of 3.75 percent and 17.16 percent inflation rate.

2023 REVENUE ESTIMATES

42. Based on these fiscal assumptions and parameters, total federally-collectible revenue is estimated at 16.87 trillion Naira in 2023.

43. Total federally distributable revenue is estimated at 11.09 trillion Naira in 2023, while total revenue available to fund the 2023 Federal Budget is estimated at 9.73 trillion Naira. This includes the revenues of 63 Government-Owned Enterprises.

44. Oil revenue is projected at 1.92 trillion Naira, Non-oil taxes are estimated at 2.43 trillion Naira, FGN Independent revenues are projected to be 2.21 trillion Naira. Other revenues total 762 billion Naira, while the retained revenues of the GOEs amount to N2.42 trillion Naira.

45. The 2023 Appropriation Bill aims to maintain the focus of MDAs on the revenue side of the budget and greater attention to internal revenue generation. Sustenance of revenue diversification strategy would further increase the non-oil revenue share of total revenues.

PLANNED 2023 EXPENDITURE

46. A total expenditure of 20.51 trillion Naira is proposed for the Federal Government in 2023. This includes 2.42 trillion Naira spending by Government-Owned Enterprises. The proposed 20.51 trillion Naira 2023 expenditure comprises:
a. Statutory Transfers of N744.11 billion;
b. Non-debt Recurrent Costs of N8.27 trillion;
c. Personnel Costs of N4.99 trillion;
d. Pensions, Gratuities and Retirees’ Benefits of N854.8 billion;
e. Overheads of N1.11 trillion;
f. Capital Expenditure of N5.35 trillion, including the capital component of Statutory Transfers;
g. Debt Service of N6.31 trillion; and
h. Sinking Fund of N247.73 billion to retire certain maturing bonds.

FISCAL BALANCE

47. We expect total fiscal operations of the Federal Government to result in a deficit of 10.78 trillion Naira. This represents 4.78 percent of estimated GDP, above the 3 percent threshold set by the Fiscal Responsibility Act 2007.

48. As envisaged by the law, we need to exceed this threshold considering the need to continue to tackle the existential security challenges facing the country.

49. We plan to finance the deficit mainly by new borrowings totalling 8.80 trillion Naira, 206.18 billion Naira from Privatization Proceeds and 1.77 trillion Naira drawdowns on bilateral/multilateral loans secured for specific development projects/programmes.

50. Over time, we have resorted to borrowing to finance our fiscal gaps. We have been using loans to finance critical development projects and programmes aimed at further improving our economic environment and enhance the delivery of public services to our people.

51. As you are aware, we have witnessed two economic recessions within the period of this Administration. A direct result of this is the significant decline in our revenue generating capacity.

52. In both cases, we had to spend our way out of recession, resulting in higher public debt and debt service. It is unlikely that our recovery from each of the two recessions would have been as fast without the sustained government expenditure funded by debt.

Ifunanya Ikueze
Ifunanya Ikueze

Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.

Related Posts:

  • FG's N30.5bn COVID-19 expenditure - CSOs demand details
    FG's N30.5bn COVID-19 expenditure - CSOs demand details
  • Shocking Details of Nigeria 2020 revised Budget
    Shocking Details of Nigeria 2020 revised Budget
  • Details of the N13.588trillion 2021 Budget Passed by the National Assembly
    Details of the N13.588trillion 2021 Budget Passed by the…
  • Details of proposed 2022 budget, FG to borrow N4.89 trillion to fund deficit
    Details of proposed 2022 budget, FG to borrow N4.89 trillion…
Previous Post

Just In: Buhari presents 2023 budget to National Assembly amid tight security – Full speech

Next Post

JUST IN: Appeal court orders ASUU to resume work immediately

Next Post
FG agrees to pay $496 million as settlement claim for Ajaokuta Steel, others

JUST IN: Appeal court orders ASUU to resume work immediately

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
MTN Nigeria to pay over N200 billion final dividend for 2022

List of Dividends announced in 2023, qualification and payment dates

Buhari to unveil new naira notes Wednesday — no longer Dec 15

BREAKING: DSS arrests Emefiele after suspension

Tinubu is my president, never knew he’s so intelligent – Abia Labour Party Rep-elect

Tinubu is my president, never knew he’s so intelligent – Abia Labour Party Rep-elect

Emefiele to be let in without arrest, expected to resign

BREAKING: Tinubu suspends Emefiele as CBN governor

How to become a distributor of Dangote Cement

How to become a distributor of Dangote Cement

EU member states agree on deal to overhaul key asylum and migration laws

EU member states agree on deal to overhaul key asylum and migration laws

Buhari to unveil new naira notes Wednesday — no longer Dec 15

BREAKING: DSS arrests Emefiele after suspension

Q3 2023 Earnings: Linkage Assurance Plc forecasts N1.25bn Profit after Tax

Q3 2023 Earnings: Linkage Assurance Plc forecasts N1.25bn Profit after Tax

Emefiele to be let in without arrest, expected to resign

BREAKING: Tinubu suspends Emefiele as CBN governor

Investogist
info@investogist.com

Follow us

Categories

  • Africa
  • Agriculture
  • Arts & Culture
  • Budgets
  • Business
  • Columnists
  • Commodities
  • Companies
  • Cryptocurrencies
  • Economic Data
  • Economy
  • Editorials
  • Financial Education
  • Football
  • Forex
  • Industry
  • Investogist Business Saturday
  • Job Opportunities
  • Markets
  • Nature
  • News
  • Nigeria
  • Op-ed
  • Opinion & Analysis
  • Places & People
  • Policies
  • Rates & Bonds
  • Sports
  • Stocks/Equities
  • Technology
  • Travel & Tours
  • Vacancies
  • World

Quick Links

  • News
  • Economy
  • Markets
  • Business
  • Opinion & Analysis
  • Travel & Tours

Newsletter

Copyright © 2023 investogist.com, All Rights Reserved

  • About Us
  • Terms & Conditions
  • Privacy Policy
  • Contact Us
No Result
View All Result
  • Home
  • News
    • Nigeria
    • Africa
    • World
  • Economy
    • Policies
    • Budgets
    • Economic Data
  • Markets
    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies

Copyright © 2023 investogist.com, All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist