The National Assembly has transmitted the 2022 budget to President Muhammadu Buhari for his assent.
The Federal Government’s budget was passed by the House of Representatives and the Senate on Tuesday and Wednesday of last week, respectively, lifting the overall estimates from N16.391tn to N17.126tn.
The oil benchmark was lifted from $57 per barrel to $62 per barrel.
The budget would be transmitted to Buhari on Thursday, according to Senate President Ahmad Lawan.
According to a correspondence from the Clerk to the National Assembly, Ojo Amos, to the Presidency, which our correspondent saw on Tuesday, the budget was transmitted on Friday and received by the President’s Office of the Chief of Staff on Saturday.
The transmission letter, NASS/CNA/37/Vol.1/35, was addressed to the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria and headlined ‘APPROPRIATION BILL, 2022.’
In accordance with the provisions of the Acts Authentication Act Cap. A2, Laws of the Federation of Nigeria, 2004, I wish to forward to Your Excellency the authenticated copies of Appropriation Bill, 2022, for your consideration and assent, it said.
Following Your Excellency’s assent, one copy of the signed bill should be maintained in your office, while the other two should be returned for our future action, please.
The National Assembly had reverted the country to a January-December budget cycle with the 2020 budget.
Buhari signed the 2021 Appropriation Bill into law on January 1, 2021, with its life cycle set to expire on December 31, 2021 (Friday) if not for the National Assembly’s recent three-month extension of the lifespan of its capital component.
The President is anticipated to sign the bill into law by Saturday.
