From Fred Itua, Abuja

Like the House of Representatives, the Senate has raised the budget of the National Assembly for 2022 by N5 billion, from the proposed N134 billion to N139 billion.

About N134 billion was proposed in the 2022 Appropriation Bill when it was laid before the National Assembly by the President, Muhammadu Buhari on October 7, 2021.

In 2021, N125 billion was proposed for the National Assembly and its agencies under its purview, but it was eventually raised by the lawmakers by N8,999,950,000, putting the new total estimates at N133,999,950,000.

Similarly, in 2020, the National Assembly raised its budget from the proposed N125 billion to the N128 billion that was eventually approved.

Meanwhile, the Senate has passed the 2022 Appropriation Bill, raising the total estimates of the Federal Government’s budget from the proposed N16,391,023,917,692 to N17,126,873,917,692, an increase by N735,850,000,000.

The oil benchmark was raised from the proposed $57 per barrel to $62. Passage of the 2022 budget followed the laying of the report by the Committee on Appropriations, consideration by the Committee of Supply and adoption by the House.

Chairman of the Senate Committee on Appropriations, Jibrin Barau, laid the report on the ‘Bill for an Act to authorise the issue from the Consolidated Revenue Fund of the Federation the total sum of N 17,126,873,917,692 only, of which N869,667,187,542 only is for Statutory Transfers, N3,879,952,981,550 only is for Debt Service, N6,909,849,788,737 only is for Recurrent (Non-Debt) Expenditure, while the sum of N5,467,403,959,863 only is for contribution to the Development Fund for Capital Expenditure for the year ending 31 December, 2022.”

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Source: news