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Pres. Buhari Signs N17.127tr 2022 Budget, Expresses Displeasure Over Worrisome Changes To Appropriation Bill

In a bid to keep up with tradition of January to December fiscal year, President Muhammadu Buhari has signed into law the 2022 Budget of 17.127trillion naira. President Buhari equally assented to the 2021 Finance Bill, today at the Presidential Villa Abuja, witnessed by the Principal officers of the National Assembly, Minister of Finance and other top government officials.

 

President Buhari however expressed concern at what he called worrisome changes by the National Assembly to the 16.39 trillion naira submitted by the executive, noting the reductions in provisions for some critical projects, including N12.6 billion in the Ministry of Transport’s budget for the ongoing Rail Modernisation projects; N25.8 billion from Power Sector Reform Programme under the Ministry of Finance, Budget and National Planning; N14.5 billion from several projects of the Ministry of Agriculture, and introducing over 1,500 new projects into the budgets of this Ministry and its agencies.

 

While further expressing displeasure at the reductions in the figures of critical projects as he vowed to send a formal request for amendment in January, he stressed that the inclusion of new provisions of over 36billion naira for National Assembly projects in the Service Wide Vote, negates the principles of Separation of Power and financial autonomy of the legislative arm of government.

 

Mr President who said he signed the 2022 budget into law, to enable its implementation commence on January 1, 2022, stated that the 2023 budget will be a transition budget and urged early commencement of work.

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