President Muhammadu Buhari has received the 2022 Appropriation Bill passed by the two chambers of the National Assembly last week. And all things being equal, Buhari is expected to sign the 2022 budget into law tomorrow Friday.
The House of Representatives had passed the bill on December 21st, while the senate passed it December 22nd, raising the total estimates from the proposed 16.391 trillion naira to 17.126 trillion naira.
The oil benchmark was raised from the proposed 57 per barrel to 62 dollars.
The breakdown of the budget include 869 billion naira for statutory allocation, 3.8 trillion naira for debt servicing, 6.9 trillion naira and 5.4 trillion naira for recurrent and capital expenditure, respectively.
Presidential spokesman, Garba Shehu, confirmed that the National Assembly had transmitted the proposed budget to the president.
