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Reps pass 2022 budget after increasing Buhari’s proposal by N730b

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HOUSE of Representatives has passed the 2022 appropriation estimate with significant increase of N730 billion.

  The passage followed the adoption of the report of Committee on Appropriations by Committee of Supply that chaired by Speaker, Femi Gbajabiamila.

  Chairman of the House Committee on Appropriations told his colleagues that the increment would allocated to INEC for the 2023 elections, Ministry of Works and Housing, Ministry of Water Resources and others.

While INEC said it would need N305 billion to conduct the 2023 elections, to generate the revenue, the lawmakers increased oil benchmark from $57 per barrel proposed to $62 per barrel. In addition, there would be an increment of N98 billion to the deficit.

It would be recalled that President Muhammadu Buhari had presented N16.39 billion estimate.

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