by Michael Agbaji
The budget of N17,126,873,917,692 was passed by house of representative on Tuesday.
following the presentation of report by the Chairman, House Committee on Appropriation, Hon. Muktar Betara.
The report was considered at the Committee of Supply presided over by the Speaker, Hon. Femi Gbajabiamila and his deputy, Hon. Idris Wase.
In the Bill passed by the lawmakers, the Consolidated Revenue Fund of the Federation the total sum of N17,126,873,917,692 (Seventeen Trillion, One Hundred and Twenty-Six Billion, Eight Hundred and Seventy-Three Million, Nine Hundred and Seventeen Thousand, Six Hundred and Ninety-Two Naira) only.
N 869,667,187,542 (Eight Hundred and Sixty-Nine Billion, Six Hundred and Sixty-Seven Million, One Hundred and Eighty-Seven Thousand, Five Hundred and Forty-Two Naira) only is for Statutory Transfers while N3,879,952,981,550 (Three Trillion, Eight Hundred and Seventy-Nine Billion, Nine Hundred and Fifty-Two Million, Nine Hundred and Eighty-One Thousand, Five Hundred and Fifty Naira) only is for Debt Service.
N6,909,849,788,737 (Six Trillion, Nine Hundred and Nine Billion, Eight Hundred and Forty-Nine Million, Seven Hundred and Eighty-Eight Thousand, Seven Hundred and Thirty-Seven Naira) only is for Recurrent (Non-Debt) Expenditure while the sum of N5,467,403,959,863 (Five Trillion, Four Hundred and Sixty-Seven Billion, Four Hundred and Three Million, Nine Hundred and Fifty-Nine Thousand, Eight Hundred and Sixty-Three Naira) only is for contribution to the Development Fund for Capital Expenditure for the year ending on the 31st day of December, 2022.
According to Hon. Muktar Betara, the report was a result of work done on the submission of estimates by the president.
He noted that the 2022 budget would be the last to be fully implemented by the current administration.
According to him, the report took cognizance of the benchmark estimates and the financial/economic realities of current times.
He earlier urged members to support and approve the recommendations in the spirit of the harmonious execution of projects for the good of Nigeria.
The report was considered clause by clause and passed.
The House adjourned plenary till Tuesday, January 18th, 2022 following a motion for adjournment moved by the Leader of the House, Hon. Alhassan Ado-Doguwa
