Senate passes 2022 Appropriation Bill of N17.126trn
The Senate has passed the 2022 Appropriation Bill of N17.126 trillion.
This followed the adoption of the recommendations of the report of its Committee on Appropriations at plenary on Wednesday.
Presenting the report, Sen. Barau Jibrin, the Chairman of the committee said the committee increased the oil price benchmark from 57 to 62 dollars to reflect the current market value in the international market.
“The committee recommended that the additional revenue should be channeled to the following ministries and agencies that forwarded their requests for more funding for very critical projects.
“They include the Ministry of Works and Housing, Independent National Electoral Commission (INEC) and the National Population Commission (NPC),” he said.
President of Senate, Dr Ahmed Lawan in his remarks, after the budget was passed commended the committees for ensuring the passage of the budget back to back before the Christmas break.
“This is one of our great legacy bringing back the budget cycle to that desirable and predictable January to
December budget cycle.
“We promised Nigerians in 2019 that this senate and indeed the national assembly will bring back that cycle of the budget so that our economy is better influenced and supported.
“We thank God for making it possible for us to achieve that in the 2020, 2021, and 2022 budget.
“That we have done this, we are not alone in it, the executive has also shown commitment, willingness and capacity to work with us at our own speed to ensure that the budget is passed before Christmas,” he said.