BREAKING: Reps Pass 2022 Budget, Raise Estimates By N610bn To N17tn

Eleven weeks after President Muhammadu Buhari submitted the 2022 budget estimates to the National Assembly, the House of Representatives has passed the 2022 Appropriation Bill and the 2021 Finance Bill.

Buhari had on October 7 proposed a total budget of N16.39trn for the year 2022 to the National Assembly.

The President had tagged the appropriation bill “a Budget of Economic Growth and Sustainability”.

He had said the budget will focus on diversifying the economy, with robust MSME growth; investing in critical infrastructure; strengthening security and ensuring good governance; enabling a vibrant, educated and healthy populace; reducing poverty; and minimizing regional, economic and social disparities.

But in passing the budget, the House raised the total estimates of the Federal Government’s budget from the proposed N16.39trn to over N17trn.

The passage followed the consideration of the reports by House Committee on Appropriation and Committee on Finance on the bills, respectively.