• Home
  • News
    • National News
    • State News
  • Business
  • Features
    • Insight
    • Opinion
  • FAAC
  • Financial
    • Facts & Figures
    • Monetary
    • Tax Matters
  • Sidelines
  • Profile
  • Special Focus
Sign in
Welcome!Log into your account
Forgot your password?
Password recovery
Recover your password
Search
Monday, March 27, 2023
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
Economic Confidential
  • Home
  • News
    • AllNational NewsState News
      Abdulrazak Ibrahim

      Abdulrazak Ibrahim: Celebrating Nigerian Genetic Engineer

      President Muhammadu Buhari, President of Nigeria

      Buhari Rejects NASS Bill To Summon President, Govs

      CEO, Araba Tech, Amb. Segun .H. Olugbile

      Araba Tech Boss Receives ‘PAN African Technology Icon Of the Year’…

      Hon. Anthony Chinasa-Abiola

      PRNigeria Fact-Check Reveals Identity of Abia Assembly’s Member-Elect, Anthony Abiola

  • Business
    • Central Bank of Nigeria, CBN

      Credit To Private Sector Increase By N212bn In February

      Foreign Airlines

      Airfares Rise As Foreign Airlines Hike Exchange Rate

      Jumoke Oduwole, the Special Adviser to the President on Ease of Doing Business

      Gombe Retains Top Position As Easiest State For Business – PEBEC

      Nigerian Stock Exchange, Stock, Nigerian Exchange Limited

      In One Week, Stock Investors Record N13bn Loss

      Stacks of Dollar Bills, Dollar

      Foreign Reserves Drop By $1.43bn In Ten Weeks

  • Features
    • AllInsightOpinion
      Buhari and Emefiele with at eNaira launch

      E-Naira: Simplifying Financial Inclusion for the Downtrodden, by Abdulrahman Abdulraheem

      Abdulrazak Ibrahim

      Abdulrazak Ibrahim: Celebrating Nigerian Genetic Engineer

      Nigeria Population

      Nigeria’s Population is a lot less than 220 million, by Tope…

      E-Naira, Godwin Emefiele, CBN

      e-Naira: Taking Agriculture in Nigeria to New Technological Heights, by Abdulrahman…

  • FAAC
    • FAAC

      FAAC: FG, States, LGAs Share N722.677 for February

      FAAC

      Kano, Lagos, Get Massive Share As LGs Share N2trn

      FAAC

      FG, States, LGCs Share N990.189bn In Dec 2022

      FAAC

      FAAC Shares 902.053 billion for November

      FAAC

      Fuel Subsidy Unsustainable, Rising Public Debt Worrisome – FAAC

  • Financial
    • AllFacts & FiguresMonetaryTax Matters
      Old Naira Notes

      Despite Acceptance of Old Notes, Crowd Overwhelm Banking Halls

      Naira Redesign: Reps Urge CBN to Revamp e-banking Platforms

      TAX

      FG Announces Removal Of 5% Tax On Calls, Data

      Court Judiciary Justice, Court, Judiciary

      FG Loses Suit To Recover N70trn Loot Over Poor Prosecution

  • Sidelines
    • Saliu Mustapha

      Visit Kwara: Saliu Mustapha Pens Foreward For New Book Spotlighting Kwara…

      Apple Data Breach: Marketing Strategy or Security Issue

      Dangote-BUA Sugar Scarcity Feud

      Google: Expanding 2-Step Verification Enrollment

      SAEMA Awards 2021: Submit Nominees for Security and Emergency Management Awards

  • Profile
    • Yusuf Alli @60: Unveiling an Investigative Journalist Par Excellence

      Pantami’s grand exposés on Cybersecurity and the Datafication of Society

      The Inimitable Kongi at 88

      The Minister of Industry, Trade and Investment, Otunba Richard Adeniyi Adebayo

      Adeniyi Adebayo: Unsung, Silent Strides in Economic Diversification

      Shettima: Nigeria’s Modern Day Philosopher-King

  • Special Focus
    • Maraba Takushara Community

      SPECIAL REPORT: Maraba Takushara, an FCT Community Under Siege… So Close…

      Yahaya Bello’s Health Initiatives: Building Nigeria of his Dreams in Kogi

      Model Science Secondary School: Yahaya Bello’s Gift to Future Generations

      Yahaya Bello, PWDs and the Love of Humanity

      Travelogue: Yahaya Bello and the Audacity to Dream (1)

Home Financial Buhari Seeks Amendment To The 2022 Appropriations Act
  • Financial

Buhari Seeks Amendment To The 2022 Appropriations Act

By
Economic Confidential
-
February 16, 2022
President Muhammadu Buhari, President of Nigeria
President Muhammadu Buhari
FIRS

Buhari Seeks Amendment To The 2022 Appropriations Act

 

President Muhammadu Buhari has written to the National Assembly for an amendment to the 2022 Appropriations Act, passed and assented to last December.

The request was contained in separate letters addressed to Senate President Ahmad Lawan and the Speaker, House of Representatives, Femi Gbajabiamila and read at the commencement of plenary Tuesday.

President Buhari, in the letter, urged the lawmakers to roll back some of the N888 billion of projects they earlier inserted in the budget to accommodate the amendments.

He also said 139 out of the 254 projects in the 2022 budget totalling N13.2bn had been identified for deletion.

He noted that the capital projects were replicated in the 2022 fiscal document.

Buhari also requested that an additional provision for N2.557 trillion be appropriated to fund the petrol subsidy in the 2022 budget to fully provide for PMS subsidy.

Buhari had while assenting to the appropriations bill last year, expressed reservations on the ‘‘worrisome changes’’ made by the National Assembly to the 2022 budget.

In amending the Appropriations Act, the president asked the legislators to transfer the National Assembly’s expenditures totalling N16.59bn in the Service Wide Vote to the National Assembly Statutory Transfer provision.

“You will agree with me that the inclusion of National Assembly’s expenditures in the Executive Budget negates the principles of Separation of Powers and Financial Autonomy of the Legislature,” the president said.

“It is also absolutely necessary to remove all capital projects that are replicated in the 2022 Appropriation Act; 139 out of the 254 such projects totalling N13.2bn have been identified to be deleted from the budget,” he said.

Buhari also said the amendment should provide for capital expenditures in the sum of N106bn; and N43bn for recurrent expenditures.

Read Also: Buhari to Discuss Global Finance, Energy Transition with World Leaders in Belgium

He also stressed the need to reinstate four capital projects totalling N1.4bn in the Executive proposal for the Federal Ministry of Water Resources, and N22bn cut from the provision for the Sinking Fund to retire mature loans needed to meet government’s obligations under already issued bonds.

Buhari said there were several other projects that have been included by the National Assembly in the budgets of agencies that are outside their mandate areas.

He, therefore, requested the National Assembly to make the amendments without increasing the budget deficit.

He told the lawmakers that he had directed the Ministry of Finance, Budget and National Planning to work with their relevant committees to comprehensively identify and realign all such misplaced projects.

latest naijanews

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)

Related

 
VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
  • TAGS
  • 2022 Appropriations Act
  • Femi Gbajabiamila
  • National Assembly
  • President Muhammadu Buhari
Previous articleHidden Debts, Bad Loans Stopping New Credits – W/Bank
Next articleReps Grill Fire Service Chief Over N1bn Recruitment, Logistics Cash
Economic Confidential

RELATED ARTICLESMORE FROM AUTHOR

Old Naira Notes
Financial

Despite Acceptance of Old Notes, Crowd Overwhelm Banking Halls

Business

Naira Redesign: Reps Urge CBN to Revamp e-banking Platforms

Business

BREAKING: CBN Increases Interest Rate to 18 Percent, Says Nigeria Banks Healthy

Business

Cash Crunch: E-bills Payment Falls by 44% Amidst Cashless Policy – NIBSS

nupeng
Business

Naira, Fuel Scarcity: 24.8m Nigerians Projected to Face Hardship – Report

Old Naira Notes
Business

New Notes Dry up as Old Cash Circulation Improves

SEMA

Book on Sales: Boko Haram Media War: An Encounter with the Spymaster

boko haram

Click Here: To Order Now!

PRNigeria FEEDS

Loading RSS Feed

EDITOR PICKS

Buhari and Emefiele with at eNaira launch

E-Naira: Simplifying Financial Inclusion for the Downtrodden, by Abdulrahman Abdulraheem

Opinion March 27, 2023
Abdulrazak Ibrahim

Abdulrazak Ibrahim: Celebrating Nigerian Genetic Engineer

News March 27, 2023
Central Bank of Nigeria, CBN

Credit To Private Sector Increase By N212bn In February

Business March 27, 2023

POPULAR POSTS

FG Loses $1bn Annually In Maritime Sector

Monetary May 19, 2020

Ajaokuta Steel Company Gets N4.3bn for Revival

Business January 9, 2017
MTN Office

MTN Nigeria Opens Offer Of N100bn Commercial Paper Issuance

Business May 29, 2020

POPULAR CATEGORY

  • Business10113
  • Monetary2759
  • Financial2424
  • Featured Post2195
  • National News1886
  • News1844
  • Editors Pick1678
  • Opinion1072
  • Features707
ABOUT US
Economic Confidential is the Abuja based Nigerian News Magazine. Economic Confidential Magazine is Factual, Authoritative and Accessible.
Contact us: [email protected]
FOLLOW US
© 2017 Economic Confidential . All Rights Reserved.
X whatsapp