Tag: 2022 Budget

Senate extends implementation of 2022 Budget

Aminu Imam

The Senate yesterday at plenary passed two bills seeking to extend the implementation of capital components of the 2022 Appropriation bills until June 30. Senate resolution followed presentation of the two Bills, sponsored by Sen. Gobir Abdullahi (APC-Sokoto). The two sponsored Bills are: ‘Bill for an Act to amend the 2022 Appropriation Act and Bill for an Act to amend the 2022 Supplementary Appropriation Act’. Abdullahi, in his presentation, said the Bills seek to amend the 2022 Appropriation Act and 2022 supplementary Appropriation Act to extend the implementation year from…

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Buhari writes Reps, seeks new borrowing to finance 2022 budget deficit

Aminu Imam

President Muhammadu Buhari has written to the House of Representatives seeking an increase in the 2022 Budget deficit to be financed through borrowing from the domestic market. President Buhari said this in a letter read by Speaker, Femi Gbajabiamila, during the plenary yesterday. The President also requested for the review of the 2022 Medium-Term Expenditure Framework, (MTEF), upon which the budget was hinged. “As you are aware Mr. Speaker, the new development both in the global economy as well as the domestic economy has necessitated the revision of the 2022…

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Just In! FG projects N10.7tr revenue target for 2022 – Minister

Aminu Imam

The Federal Government has projected a revenue target of N10.7trillion for the 2022 fiscal year. The Minister of Finance, Zainab Ahmed disclosed this on Tuesday, at a briefing in Abuja. She said the figure is 32 percent higher than the N8.1trillion projected in 2021. Debt servicing is expected to gulp N3.6trillion. She further explained that the 2022 budget has a deficit of N6.3trillion and will be financed from domestic, foreign, multi-lateral loans and proceed from privatisation. A total of N2.5 trillion is expected from domestic sources and N2.5trillion from foreign…

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“Nigeria’s 2022 Budget not implementable”, Says Wike

Aminu Imam

Rivers State Governor, Nyesom Wike, has argued that the N17.127 trillion budget signed into law last week by President Muhammadu Buhari is not implementable. Wike noted that the President should have returned the budget to the National Assembly for correction before assent, as according to him, many of the provisions cannot be implemented. The governor, who said this in Bauchi yesterday, when he visited his counterpart, Bala Mohammed, on a ‘special New Year visit’, expressed worry over the state of leadership recruitment in the country. He said, “You saw a…

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Buhari reveals how National Assembly altered, distorted 2022 Budget

Aminu Imam

…”We did nothing wrong” – NASS President Buhari, yesterday, said he signed the Bill into law despite his reservations about many of the changes that the NASS members made to the Executive proposal. The president made the revelation on Friday during the signing of the 2022 Appropriation Bill, as well as the enabling 2021 Finance Bill, into law. Flanked by the President of the Senate, Ahmad Lawan, the Speaker of House of Representatives, Femi Gbajabiamila as well and the Minister of Finance, Zainab Ahmed, as well as other top government…

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Just In! Buhari signs 2022 Budget into law

Aminu Imam

Hassan Umar Farouk President Muhammadu Buhari, on Friday, signed the 2022 Appropriation Bill. Buhari signed the Presidential Villa, Abuja.The President signed the Bill into law during an event at the Council Chamber of the Presidential Villa in Abuja, the Federal Capital Territory (FCT). The Appropriation Bill was presented to Buhari by his Senior Special Assistant (Senate) on National Assembly Matters, Senator Babajide Omoworare. Buhari was flanked by the Senate President, Ahmed Lawan and the Speaker of the House of Representatives, Femi Gbajabiamila, while signing the Bill into law. This is…

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Buhari to sign 2022 Budget on Friday, as NASS transmits document to President for assent

Aminu Imam

President Muhammadu Buhari will sign the 2022 Appropriation Bill on Friday, the Presidency has confirmed. The President’s Senior Special Assistant on Media and Publicity, Garba Shehu, confirmed during a television programme yesterday, in Abuja. This comes barely a week after lawmakers in the House of Representatives and Senate chambers of the National Assembly passed a budget of N17.126 trillion, increasing the benchmark price of crude from $57 to $62 per barrel. Meanwhile, the National Assembly has transmitted the 2022 Appropriation Bill to the President for his assent. Recall that the…

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2022 Budget: Buhari to sign Appropriation Bill into law on Friday

Ishaku Yohanna

Barring any unforeseen circumstances, President Muhammadu Buhari is expected to sign the 2022 Appropriation Bill into law on Friday, 31st December. The Senior Special Assistant to the President on Media and Publicity, Garba Shehu, confirmed this to Channels Television on Tuesday in Abuja. According to him, the 2022 budget has been transmitted by the National Assembly and the President will sign the bill into law by 10am. This comes barely a week after lawmakers in the House of Representatives and Senate chambers of the National Assembly passed a budget of N17.126 trillion,…

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Senate alleges N16bn padding of 2022 Budget

Aminu Imam

The Senate Committee on Environment, yesterday, said it had discovered some N16 billion included in the 2022 budget of the Ministry of Environment for servicing of debts believed to have been collected by state governments. Chairman of the panel, Senator Ike Ekweremadu, made the revelation during the presentation of his committee’s report before the Senate Committee on Appropriation in Abuja. He claimed that about N6 billion was also added to the ministry’s 2021 budget, for which it was queried by the committee, stating, “only for it to be brought back…

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2022 Budget laced with fake items to defraud Nigerians – Group alleges

Aminu Imam

A civil society organisation, (CSO), Anti-Corruption Network, (ACN), has raised the alarm over the proposed 2022 budget, alleging that it contains fake items running into billions of Naira, aimed at defrauding Nigerians. Addressing a press conference in Abuja yesterday, the ACN Executive Secretary, Senator Dino Melaye, described the nation’s budgeting system as a monumental national disgrace. The organisation also condemned the N228 billion budgetary provision proposed by the Federal Inland Revenue Service Commission (FIRS), describing it as a monumental fraud. Recall that President Muhammadu Buhari had in October presented a…

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