The 2023 appropriation bill of 20.5 trillion naira has passed through the second reading in the Senate and the House of Representatives.

The upper chamber referred the bill to its Committee on Appropriation for further legislative action and expressed dissatisfaction over the rise in recurrent expenditure which is up from over six trillion naira this year to over eight trillion budgeted for next year.

According to the lawmakers, Nigeria cannot continue to borrow to fund one percent of its population. Subsequently, the Senate asked its committee to report back in four weeks.

It adjourned its sitting for the next four weeks to allow its various committees to work on the 2023 budget estimates as well as a budget defence by various ministries, departments, and agencies.