By Ajuma Edwina Ameh
The House of Representatives on Tuesday passed the 2022 budget of N17.126 trillion, against the N16.391 trillion sum presented by President Muhammadu Buhari.
The budget deficit was increased to accommodate some other requests of national importance which were not captured in the budget estimates, and which could not be covered by the revenue increase.
The house also made provision for an increase by N400 billion, for agencies with financial reports which were not captured in the proposed budget.
The agencies includes INEC, Ministries of Humanitarian Affairs, the National Assembly among others.
In passing the bill, the House increased the benchmark for crude from $57 to $62 per barrel from which a proposed increase in revenue is expected.
Persecondnews reports that the lawmakers also made provision for 10 percent of monies recovered by EFCC and the National Financial Intelligence Unit, to be utilized by the agencies for their operations and strengthen their fight against corruption.