Over the last eight years, the aggregate approved national budget in Nigeria has had a 3.4% increase over the proposed. N75.96 trillion has been proposed as aggregate expenditure from 2015 to 2022, the approved figure as passed by the national assembly stood at N78.54 trillion.
This is an N2.58 trillion differential representing a 3.4% increase in the approval over the proposed.
The 2022 appropriation by the National Assembly is over N700 billion more than the proposed budget. The lawmakers passed a N17.1 trillion budget for 2022 against the N16.3 trillion proposed by the president in October 2021.
Data shows that asides from 2016, the approved budget of the Federal Government consistently exceeds the proposed budget in the years under review. N6.08 trillion was proposed in 2016, while the approved budget was N6.06 trillion.
2018 budget had the highest percentage differentials where it recorded a 5.92% increase in the approved budget (N8.61 trillion) over the proposed (N8.12 trillion)
In the preceding years, the approved budget was 1.02% over the proposed in 2019, 4.65% in 2020, 4.22% in 2021 (including supplementary budget), and 4.51% in 2022.