Like the House of Representatives, the senate has raised the budget of the National Assembly for 2022 from the proposed N134 billion to N139 billion, which represents a N5 billion increment.
About N134 billion was proposed in the 2022 Appropriation Bill when it was laid before the National Assembly by President Muhammadu Buhari on October 7, 2021.
In 2021, N125 billion was proposed for the National Assembly and its agencies under its purview, but it was eventually raised by the lawmakers by N8,999,950,000, putting the new total estimate at N133,999,950,000.
Meanwhile, the Senate passed the 2022 Appropriation Bill, raising the total estimates of the Federal Government’s budget from the proposed N16,391,023,917,692 to N17,126,873,917,692, an increase of N735,850,000,000.
The oil benchmark was raised from the proposed $57 per barrel to $62. Passage of the 2022 budget followed the laying of the report by the Committee on Appropriations, consideration by the Committee of Supply and adoption by the House.
Chairman of the Senate Committee on Appropriations, Jibrin Barau, laid the report on the bill for an Act to authorise the issue from the Consolidated Revenue Fund of the Federation with the total sum of N17,126,873,917,692 only.
[Sun]
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