PRESIDENT Buhari is billed to present 2022 Appropriation Bill before a joint session of the National Assembly (NASS) Thursday, October 7, 2021.
The president’s scheduled budget presentation is contained in a letter to the Senate President, Senator Ahmad Lawan, which was read out by the Deputy Senate President, Senator Ovie Omo-Agege, at the start of plenary on Tuesday.
In the letter, the president sought the Senate’s approval to make some changes in the recently passed Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) – parameters on which the 2022 budget will be framed. The changes, the president said, are in line with the newly enacted Petroleum Industry Act (PIA).
The president is also seeking an increase in the country’s 2022 budget to N16.45 trillion over this year’s, which is N13.98 trillion; an increase of about N2.47 trillion.
Of the additional N2.47 trillion, the president explained that N100 billion will be allocated to the Independent National Electoral Commission (INEC), as additional provision to cater for 2023 general elections.
Another N54 billion to National Agency for Science and Engineering Infrastructure (NASENI) which represents one per cent of the federal government’s share of the federation account.
There will be additional provision of N510 billion in the Service Wide Votes to cater for national poverty reduction with growth strategy (N300 billion) and Police Operations Fund (N50 billion).
Health workers are to get N50 billion for Hazard Allowance. While N80 billion will be allocated for public service wage adjustments and additional N37 billion for MDAs’ electricity bills debt.
The president also said there will be allocation for an additional capital provision of N1.70 trillion attributed to projected increases in Capital Supplementation by N179.1 billion; government Owned Enterprises (GOEs) capital by N222.1 billion; TETFUND Expenditure by N290.7 billion; Multilateral/Bi-lateral Project-tied Loans by N517.5 billion; and MDAs Capital Expenditure by N390.5 billion (including N178.1 billion provision for population and housing census to be carried out in 2022).
