President Muhammadu Buhari has signed 2022 Budget of a 17.126 trillion naira into law and also signed the Finance Bill 2021, which he said is critical to the execution of the 2022 Budget.
The Appropriation Bill titled “Budget of Economic Growth and Sustainability” was signed at a brief ceremony attended by Senate President Ahmed Lawan, Speaker Femi Gbajabiamila of the House of Representatives, the Secretary to the Government of the Federation Boss Mustapha; and the Minister of Finance Budget and National Planning, Zainab Ahmed.
The Bill was handed over to the President for signing by his Senior Special Assistant on National Assembly Matters Senate, Babajide Omoworare.
The new Budget, valued at 17.126 trillion naira, was transmitted to the President by the National Assembly last week Friday, December 24.
President Buhari had submitted the draft proposed 2022 Budget of 16.391trillion naira to the joint session of the National Assembly on Thursday, October 7, 2021, calling on the legislators to give it a speedy consideration.
The breakdown of the budget includes 869 billion naira for statutory allocation, 3.8 trillion for debt servicing, 6.9 trillion naira and 5.4 trillion naira for recurrent and capital expenditure.
