On January 3, 2023, President Muhammadu Buhari signed the 2023 Appropriation Bill of N21.83 trillion into law, Nigeria’s largest budget in history and the last of his administration. The budget is based on a N10.49 trillion revenue and a N11.34 trillion deficit.
From the total revenue of N10.49 trillion, independent revenue has the highest share of N2.62 trillion, non-oil revenue has N2.43 trillion, while N2.23 trillion will be gotten from oil revenue. Retained revenue from GOEs is N2.42 trillion, and other revenues will generate N794.13 billion.
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