• Monday, June 24, 2024
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Reps pass 2022 budget, jerk estimates to 17.12trn

Reps speakership aspirants forge alliance with Betara as APC tips Abass/Kalu

The House of Representatives had passed the 2022 budget (Appropriations Bill), increasing the budget estimates to 17.12 trillion as against the N16.39 trillion proposed by President Muhammadu Buhari.

The passage followed the consideration of the report of the House of Representatives Appropriations Committee by the Committee of Supply chaired by the Speaker, Femi Gbajabiamila at plenary on Tuesday.

Read also: Reps to reconsider rejected Electoral Act in 2022

According to the approved budget, N869.6 billion is for statutory transfers, N6.9 trillion is for recurrent expenditure, N5.46 trillion is for capital expenditure while debt service took N3.8 trillion.

However, the proposal by the Federal Government put N768.27 billion for statutory transfers, N3. 901 trillion for debt service, N6.82 trillion for recurrent (Non-Debt) expenditure.