The National Assembly has transmitted the 2022 Appropriation Bill to President Muhammadu Buhari for assent.
The House of Representatives and the Senate passed the Federal
Government’s budget on Tuesday and Wednesday last week,
respectively, raising the total estimates from the proposed 16.391trillion
to 17.126trillion naira, while the oil benchmark was raised from the
proposed $57 per barrel to $62.
The National Assembly had with the 2022 budget returned the country
to a January-December budget cycle.
Buhari had signed 2021 Appropriation Bill into law on January 1, 2021,
while it’s life cycle was expected to expire on December 31, 2021 but
for the recent extension of the lifespan of its capital component three
months by the National Assembly.
The President is expected to assent to the money bill by Saturday.
