Buhari sends N819.5bn supplementary budget to National Assembly

PRESIDENT Muhammadu Buhari has presented a N819.5 billion supplementary budget to the National Assembly.

The budget is expected to be funded by domestic borrowings amid concerns of rising debt. This will increase the budget deficit to N8.17 trillion.

According to a letter the Speaker of the House of Representatives, Femi Gbajabiamila, read today in the chamber, the President raised the supplementary budget to address food security, following devastating floods across the country, as well as repair damage to road infrastructure and the water sector.


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The President premised the budget on the need to complete ongoing critical Federal government projects, such as dams and irrigation projects.






     

     

    Buhari had on December 31, 2021 signed the 2022 Appropriation Bill of N17.126 trillion into law after it was presented to him by his Senior Special Assistant (Senate) on National Assembly, Senator Babajide Omoworare, at the Council Chamber of the Presidential Villa in Abuja.

    He said he would revert to the National Assembly with a request for an amendment to ensure that critical ongoing projects cardinal to his administration did not suffer a setback as a result of reduced funding.

    He recounted that during the presentation of the 2022 Appropriation Bill, he had stated that the 2022 fiscal year would be very crucial in his administration’s efforts at completing and putting to use critical agenda projects, as well as improving the general living conditions of Nigerians.

    Buhari argued that the cuts by the lawmakers could render the implementation of the budget impossible.

    Harrison Edeh is a journalist with the International Centre for Investigative Reporting, always determined to drive advocacy for good governance through holding public officials and businesses accountable.

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