Breakdown: The 2023 budget of the Federal Government of Nigeria

On the 3rd of January 2023, President Muhammadu Buhari assented to the N21.83 trillion 2023 Appropriation Bill, representing a 27.4% yearly increase to become the largest budget in the history of Nigeria and Buhari's final budget as the president. The budget of the Federal Government of Nigeria is premised on a revenue projection of N11.04 trillion, and expenditure estimates of N21.83 trillion, resulting in a deficit of N10.78 trillion. The government expects to finance the deficit through asset sales and privatization (N0.20T), debt financing (N8.80T), and multi-lateral project-tied loans (N1.77T).