Headline Local News Nigeria

Edo assembly passes ₦222bn as 2022 budget

Edo State House of Assembly has passed 2022 Appropriation Bill of ₦222.5 billion into law.

The passage of the bill followed the consideration of the report of the house committee on appropriation, chaired by the Deputy Whip, Ephraim Aluebhosele.

The lawmakers considered and adopted a recommendation of the report of the house’ standing committee on appropriation and project monitoring on the 2022 appropriation bill and budget estimates.

With an upward review from ₦214.2 billion for the 2022 fiscal year to ₦222.5 billion, the bill has ₦92.4 billion for recurrent expenditure and ₦130.8 billion as capital expenditure.

Meanwhile, House Speaker Marcus Onobun, after deliberations on the 2022 appropriation bill, directed the clerk of the Assembly to accord the bill its third reading while clean copies of the bill be forwarded to the state Governor, Godwin Obaseki, for assent.

Also during plenary, the house approved the request by Governor Obaseki to access a discounted bridging finance facility of ₦15.2 billion from a commercial bank.

This is sequel to a legislative approval granted on November 4, 2021, for the state government to be credited in tranches of the total sum of ₦15.2 billion.

Reporting by Victor Adefemi; editing by Muzha Kucha and Tony Okerafor