President Muhammadu Buhari has assented to the 2022 national budget, one week after it was passed by the National Assembly.

The President signed the Appropriation Bill into law Friday, in the presence of the President of the Senator, Senator Ahmed Lawan. Speaker Femi Gbajabiamila of the House of Representatives, and the Minister for Finance, Zainab Ahmed.

Assenting to the budget, the President however expressed concern over the inputs made by the National Assembly.

He said changes introduced by members of parliament which has raised the threshold could affect the effective implementation of next year’s budget.

Nigeria is to spend NGN 17. 126 trillion next fiscal year, following last moment adjustments made by the National Assembly.

Recall that the total sum of NGN 16.391 trillion was forwarded by President Muhammadu Buhari to federal lawmakers on October 7, 2021 as Nigeria’s national budget.

There are indications that Capital Expenditure estimates in the 2022 national budget, when compared to budget estimates in the past four years is expected to increase by about 60%.

The Finance Minister would in line with tradition provide a sectoral breakdown of the budget for the benefit of all Nigerians.

Read Also  APC Presidential Race: Ken Nnamani withdraws