March 26, 2023

The President of the Federal Republic of Nigeria, President Muhammadu Buhari on Tuesday, transmitted the 2022 appropriation act (amendment bill)to the National Assembly seeking the approval of the federal parliament for a supplementary with estimates totaling #150,032,091,096 and approval for another 2.55TN vending payment for subsidy on premium Motor Spirit popularly known as petrol

Ahmed Lawan the president of the Senate and also Speaker of the house of representatives,Femi Gbajabiamila read Buhari’s letter dated February 10 2022 in plenary. President Buhari said 139 out of the 254 project in the 2022 budget valued at #13.24 billion naira had been identified asking the lawmaker to delete them requesting the National Assembly to provide for capital expenditure totaling#106,161,499,052 and recurrent expenditure amounting to #43,870,592,044.

He also requested that an additional provision of#2.557TN be made to fund to petrol subsidy in 2022. He asked the lawmaker to give back four capital projects worth #1.4billion naira under Federal Ministry of Water resources and then #22bn cut from the provision for the sinking fund to retire loan needed to meet government responsibility of issued bond

Marvelous Ogidi

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