The House of Representatives has passed for second reading the 2022 Appropriation Bill after a two-day debate on the general principles of the national budget.
The lawmakers had taken turns to criticise the internal and external borrowings by the Federal Government, the huge budget deficit and failure by the ministries, departments and agencies to generate adequate revenue to finance the budget, among other issues.
The budget is titled, ‘A Bill for an Act to Authorise the issue from the Consolidated Revenue Fund of the Federation, the total sum of N16,391,023,917,692 only, of which N768,276,616,043 only is for Statutory Transfers, N3,901,952,981,550 only is for Debt Service, N6,829,015,483,446 only is for Recurrent (Non-Debt) Expenditure while the sum of N4,891,778,836,654 only is for Contribution to the Development Fund for Capital Expenditure for the year ending 31 December, 2022.’
More to follow…
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