Nigeria’s President, Muhammadu Buhari has given assent to the 2022 Appropriation Bill of N17.126 trillion as well as the 2021 Finance Bill.
The documents which was singed at the Presidential Villa, Abuja in the presence of the Senate President, Ahmed Lawan, Speaker of the House of Representatives, Femi Gbajabiamila, and other members of the Federal Executive Council.
President Buhari, while giving insight into the provisions of the Bill, explained that the just signed 2022 Budget, provides for aggregate expenditures of N17.127 trillion, an increase of N735.85 billion over the initial Executive Proposal for a total expenditure of N16.391 trillion.
The President further said some of the worrisome changes in the budget to include an increase in projected Federal Government independent revenue by N400 billion, reduction in the provision for Sinking Fund to Retire Maturing Bonds by N22 billion, and reduction of the provisions for the Non-Regular Allowances of the Nigeria Police Force and the Nigerian Navy by N15 billion and N5 billion respectively; all without any explanation.
President Buhari therefore, expressed reservations on the inclusion of new provisions which he said, totaled the sum of N36.59 billion for National Assembly’s projects in the Service Wide Vote, contradicted the principles of separation of powers and financial autonomy of the National Assembly.
