Featured Headline News Nigeria

Buhari assents to amended Budget

President Muhammadu Buhari has assented to the 2022 amended appropriation bill.

The signing was announced in a statement by the Senior Special Assistant to the President on National Assembly Matters (House of Representatives), Umar El-Yakub.

The bill, which was recently passed by the National Assembly, repeals the Appropriation Act, 2022, and enacts a new Appropriation Act, 2022; to authorise the issue from the Consolidated Revenue Fund of the Federation, the total sum of N17,319,704,091,019 only, of which N817,699,410,210 only is for Statutory Transfers.

The federal Government is to spend N3,978,087,110,437 only for Debt Servicing; N7,108,621,131,849 only is for Recurrent (Non-Debt) Expenditure, while the sum of N5,415,296,438,523 only is for Contribution to the Development Fund for Capital Expenditure for the Year Ending on the 31st day of December, 2022.

Reporting by Ibrahim Shehu; Editing by Daniel Adejo and Tony Okerafor