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Tuesday, July 5, 2022

Buhari signs N17tn 2022 budget into law, Laments changes

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The President, Major General Muhammadu Buhari (retd.), Friday in Abuja signed into law the 2022 Appropriation Bill and the 2021 Finance Bill.

The President signed the documents in the Presidential Villa in the presence of Senate President Ahmed Lawan, Speaker of the House of Representatives, Femi Gbajabiamila, and other members of the Federal Executive Council.

Speaking at the event, the President said the 2022 Budget, just signed into law, 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 explained that N186.53 billion of the increase however came from additional critical expenditures that he had authorised the Minister of Finance, Budget, and National Planning to forward to the National Assembly.

‘‘The Minister will provide the public with the details of the budget as passed by the National Assembly, and signed into law by me,’’ he said.

President laments ‘worrisome changes’

Buhari also expressed strong reservations on the ‘‘worrisome changes’’ made by the National Assembly to the 2022 Executive Budget proposal, according to a statement by the Senior Special Assistant to the President (Media & Publicity), Garba Shehu, on Friday.

He announced that he would revert to the National Assembly with a request for amendment as soon as the Assembly resumes to ensure that critical ongoing projects cardinal to this regime do not suffer a setback due to reduced funding.

The President recounted that during the presentation of the 2022 Appropriation Bill, he had stated that the fiscal year 2022 would be very crucial in his administration’s efforts to complete and put to use critical agenda projects, as well as improve the general living conditions of our people.

‘‘It is in this regard that I must express my reservations about many of the changes that the National Assembly has made to the 2022 Executive Budget proposal.

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