Buhari Signs N17tn 2022 Budget Into Law, Laments ‘Worrisome Changes’

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Buhari Signs N17tn 2022 Budget Into Law

The President Buhari signed the documents in the Presidential Villa in the presence of Senate President Ahmed Lawan, Speaker of the House of Representatives, Femi Gbajabiamila, and other members of the Federal Executive Council.

President Muhammadu Buhari, Nigeria’s most powerful man, signed the Appropriation Bill for 2022 and the Finance Bill for 2021 into law on Friday in Abuja.

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In the presence of Senate President Ahmed Lawan, Speaker of the House of Representatives Femi Gbajabiamila, and other members of the Federal Executive Council, President Buhari signed the documents at the Presidential Villa.

The President said at the event that the 2022 Budget, which was recently signed into law, provides for total expenditures of N17.127 trillion, an increase of N735.85 billion over the initial Executive Proposal of N16.391 trillion.

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However, N186.53 billion of the increase came from additional critical expenditures that the President had directed the Minister of Finance, Budget, and National Planning to submit to the National Assembly.

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“The Minister will make the details of the budget as passed by the National Assembly and signed into law by me available to the public,” he said.

President laments ‘worrisome changes’

According to Garba Shehu, the Senior Special Assistant to the President (Media & Publicity), Buhari also expressed strong reservations about the National Assembly’s “worrisome changes” to the 2022 Executive Budget proposal.

He stated that as soon as the National Assembly reconvenes, he will submit a request for amendment to ensure that critical ongoing projects critical to this regime do not suffer a setback due to reduced funding.

The President recalled that during the presentation of the Fiscal Year 2022 Appropriation Bill, he stated that the fiscal year 2022 would be critical in his administration’s efforts to complete and implement critical agenda projects, as well as improve our people’s general living conditions.

“It is in this context that I must express my reservations about many of the changes to the Executive Budget proposal for 2022 that the National Assembly has made.

‘‘

The following are some of the alarming changes:

“An increase of N400 billion in projected FGN Independent Revenue, with justification yet to be provided to the Executive:

“Without explanation, the provision for the Sinking Fund to Retire Maturing Bonds was reduced by N22 billion;

“The provision for the Nigerian Police Force’s Non-Regular Allowances has been reduced by N15 billion and the provision for the Nigerian Navy’s Non-Regular Allowances has been reduced by N5 billion.

“This is especially concerning because personnel cost provisions are based on nominal roll and approved salaries/allowances;

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“Furthermore, some MDAs’ Overhead budgets were increased by N21.72 billion, while N1.96 billion was cut from the provision for some MDAs without apparent justification;

“A net increase of N575.63 billion in the provision for capital spending (excluding Capital share in Statutory Transfer) from N4.89 trillion to N5.47 trillion.”

President Buhari also expressed concern about budget cuts to some critical projects, including N12.6 billion in the Ministry of Transport’s budget for ongoing Rail Modernisation projects, N25.8 billion from the Ministry of Finance, Budget and National Planning’s Power Sector Reform Program, N14.5 billion from several Ministry of Agriculture projects, and the introduction of over 1,500 new projects into this Ministry’s and its agencies’ budgets.

 

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