Nigerian President Muhammadu Buhari on Friday in Abuja signed the 2022 Appropriation Bill (budget) of N17.126 trillion (about $41.770 billion) into law.
Speaking during the signing ceremony, Buhari expressed displeasure at some of the adjustments made by the lawmakers on the budget proposal presented to the National Assembly.
Specifically, the Nigerian leader said that some of the changes in the budget included increases in revenue projections of government by N400 billion, reduction in the provision for Sinking Fund to Retire Maturing Bonds by N22 billion and the reduction of the provisions for the Non-Regular Allowances of the Nigerian Police Force and the Nigerian Navy by N15 billion and N5 billion respectively.
He said that he would soon present a request for an amendment of the budget in order to ensure that critical ongoing projects cardinal to his administration do not suffer a setback as a result of reduced funding.
Buhari promised to commence early preparations for the 2023 transition budget and quickly begin the process to ensure early submission of the 2023-2025 Medium-Term Expenditure Framework and Fiscal Strategy Paper to the National Assembly.
The officials present at the ceremony included the President of the Senate, Ahmed Lawan Speaker of the House of Representatives, Femi Gbajabiamila; Secretary to the Government of the Federation (SGF), Boss Mustapha; and Minister of Finance, Budget, and National Planning, Mrs Zainab Ahmed, among others. ($1=N410)
GIK/APA