The Federal Government’s recently agreed wage with the Labour Congress, salaries to federal workers, and other non-debt recurrent costs are expected to gulp N7.76tn in 2023.
According to appropriation details from the budget office, N1.01tn of the total budget is for recurrent expenditure with N1.17tn pegged for capital expenditure. The supplementary budget is set to increase the total non-debt recurrent expenditure of the Federal Government to N7.76tn and capital expenditure to N4.53tn.
The supplementary budget is also set to increase the total budget for 2023 to N19.81tn. When debt servicing is removed, the budget totals N13.26tn. Of the N7.76tn budgeted for recurrent expenditure, at least N4.31tn (55.54 per cent) will be spent on salaries. So far, the government has spent N978.10bn on salaries in the first three months of 2023, based on the 2023 Q1 implementation report.
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