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BREAKING: Senate Passes 2022 Appropriation Bill

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By Ajuma Edwina Ameh

The Senate has passed the 2022 budget of N17.126 trillion, upped from the N16.391 trillion presented by President Muhammadu Buhari.

Persecondnews had reported that the House of Representatives also passed the N17.126 trillion budget mark.

In passing the bill, the Senate like the lower Chamber approved an increased benchmark for crude from $57 to $62 per barrel, from which a proposed increase in revenue is expected.

The sum of N3.8 trillion is for debt servicing while N6.9 trillion is for recurrent non-debt expenditure. N5.4 trillion is for capital expenditure.

President Buhari had on 7th October 2021, presented the 2022 budget proposal of N16.391 trillion to the joint session of the National Assembly for consideration and approval.

…details shortly

 

 

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