Nigeria's President Muhammadu Buhari has signed the 2023 budget of more than $45bn (£37bn) into law.
It is the last budget of his administration.
The budget reveals that the government wants to sell some public assets in order to lessen the huge deficit, which amounts to just less than 5% of GDP.
Alongside the main spending plan is an additional spending plan to deal with the aftermath of the recent nationwide floods which damaged vital infrastructure.
A large portion of the budget is funded by the earnings from crude oil but volatility in the oil price has meant that borrowing has increased and forced the government to look for other ways to raise funds.
Mr Buhari's two terms in office will come to an end after voters elect his successor next month.
Latest Stories
-
George Twum-Barimah-Adu pledges inclusive cabinet with Minority and Majority leaders
6 mins -
Labourer jailed 5 years for inflicting cutlass wounds on businessman
7 mins -
Parliament urged to fast-track passage of Road Traffic Amendment Bill
7 mins -
Mr Daniel Kofi Asante aka Electrician
8 mins -
Minerals Commission, Solidaridad unveils forum to tackle child labour in mining sector
13 mins -
Election 2024: Engagement with security services productive – NDC
15 mins -
‘Let’s work together to improve sanitation, promote health outcome’ – Sector Minister urges
16 mins -
Ellembelle MP cuts sod for six-unit classroom block at Nkroful Agric SHS
19 mins -
‘I’ll beat the hell out of you if you misbehave on December 7’ – Achiase Commanding Officer
21 mins -
AFPNC leads the charge on World Prematurity Day 2024
27 mins -
Court remands unemployed man over theft of ECG property
33 mins -
Election security rests solely with the police – Central Regional Police Command
35 mins -
NCCE engages political youth activists at Kumbungu on tolerance
36 mins -
‘In Mahama’s era students lacked chalk, but are now receiving tablets’ – Bawumia
46 mins -
Project commissioning not a ploy to attract votes – Oppong Nkrumah
47 mins