The House of Representatives has passed the 2022 budget of N16.39 trillion for second reading.
Thursday’s passage by the Green Chamber followed the conclusion of debate on the general principles of the budget.
POLITICS NIGERIA recalls that President Muhammadu Buhari last week presented a N16.39 trillion budget proposal for the 2022 fiscal year.
Buhari had said out of the total expenditure of N16.39 trillion proposed for the Federal Government in 2022, N768.28 is for Statutory Transfers; N6.83 trillion is for Non-debt Recurrent Costs; and N4.11 trillion for Personnel Costs.
Others are N577.0 billion for Pensions, Gratuities and Retirees’ Benefits; N792.39 for Overheads; N5.35 trillion for Capital Expenditure, including a capital component of statutory transfers; N3.61 trillion for Debt Service; and N292.71 billion Naira for Sinking Fund to retire certain maturing bonds.
