• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
    • Government
  • Security
  • Features
  • State
  • Event
    • PR Nigeria Award
  • E-Paper
Search
  • 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.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
    • ICPC Secures Conviction of Rector for Running Unaccredited Degree Programmes

      Engr Abba Babagana Dalori

      Engr Dalori Forfeits Galaxy Hospital, Petrol Station, Properties & Cash

      Chinese nationals jailed in Lagos

      Court Jails Nine Chinese Nationals for Cybercrime in Lagos

      ASUU

      Tackle Corruption, Institutional Decay – ASUU Charges FG

      EFCC Arraigns Bauchi Accountant General Over N8bn Fraud as Court Sentences…

  • Fact-Check
  • Economy
    • Tinubu Jets to Brazil After Japan Summit, Eyes Trade, Security Deals

      Comptroller-General of Customs, Bashir Adewale Adeniyi (MFR), hosted the Executive Chairman of FIRS, Dr. Zacch Adedeji,

      Customs and the “National Single Window” Project

      FG Earmarks N13bn to Boost Power Infrastructure in Lagos, Ogun

      Centre for Crisis Communication, CCC,

      CCC Reviews Keyamo’s Crisis Management in Aviation Disputes

      NITDA Applauds Tech Giants for Advancing Online Safety in Nigeria

  • National
    • Officers of NCS as it rounds off its Strategic Reputation Management Campaign in Zone 'D', Bauchi

      Customs Consolidates Reforms as Reputation Campaign Wraps Up in Zone ‘D’

      CG Custom Bashir Adewale Adeniyi and Zacch Adedeji

      Is Zacch Adedeji Building Bridges for Nigeria’s Revenue Future? By Yushau…

      Army soldiers security

      Mattress of Terror: Can Nigeria Ever Be Truly Secure? By Haroon…

      ACF

      Arewa Consultative Forum Engages Influencers to Amplify Northern Identity

      Delegations Arrive Abuja for Inaugural African Defence Chiefs Summit

    • Government
      • CG Custom Bashir Adewale Adeniyi and Zacch Adedeji

        Is Zacch Adedeji Building Bridges for Nigeria’s Revenue Future? By Yushau…

        ACF

        Arewa Consultative Forum Engages Influencers to Amplify Northern Identity

        FG, States, LGs Share N2.001trn for July, Says FAAC

        FG Unveils Personal Income Tax Calculator Under New Reform Laws

        Saudi Arabia Conducts Life-Saving Cardiac surgeries in Kano

        Saudi Arabia Conducts Life-Saving Cardiac Surgeries in Kano

  • Security
    • Police Arrest 65-Year-Old Arms Trader, Suspected Chinese Illegal Miner in Anambra

      Officers of NCS as it rounds off its Strategic Reputation Management Campaign in Zone 'D', Bauchi

      Customs Consolidates Reforms as Reputation Campaign Wraps Up in Zone ‘D’

      Nigerian Navy Personnel

      Navy Dismantles Illegal Refining Site in Bayelsa

      Army soldiers security

      Mattress of Terror: Can Nigeria Ever Be Truly Secure? By Haroon…

      Police Recover arms from Boko Haram in Borno

      Man, 65, arrested for illegal arms deal in Anambra – Police

  • Features
    • CG Custom Bashir Adewale Adeniyi and Zacch Adedeji

      Is Zacch Adedeji Building Bridges for Nigeria’s Revenue Future? By Yushau…

      Army soldiers security

      Mattress of Terror: Can Nigeria Ever Be Truly Secure? By Haroon…

      The Arrest of Ansaru Kingpins Mahmud Muhammad Usman aka Abu Bara’a, and Mahmud al-Nigeri aka Mallam Mamuda

      Ribadu and the fall of Ansaru By Senator Iroegbu

      Fixing the Fault Lines in Nigeria’s Culture of Recognition, By Mukhtar…

      How Desperation Turns Nigerian Job Seekers Into Scam Targets By Tahir…

  • State
    • Nigerian Navy Personnel

      Navy Dismantles Illegal Refining Site in Bayelsa

      ACF

      Arewa Consultative Forum Engages Influencers to Amplify Northern Identity

      CRUSHING BLOW: other Top Boko Haram commanders neutralized in Bita, Wigo

      CP Jimoh Moshood

      Lagos Police Intercept Vehicle Loaded with Cannabis

      ACF

      ACF Decries Worsening Insecurity in the North

  • Event
    • President Bola Ahmed Tinubu

      His Death is a National Loss, Tinubu Mourns Emir of Zuru

      Umar Lauya

      Umar Lauya Declares Candidacy for NYCN Presidency, Vows to Unite and…

      The Executive Secretary/CEO of the National Sugar Department Council (NSDC), Mr. Kamar Bakrin (L), with the CEO of Legacy Sugar Company, Alh. Abubakar Isa Musa (R), during the signing ceremony.

      NSDC, New Operators Seal Landmark Development Agreements, to Produce 400,000MT of…

      Regional Vice President Western and Central Africa at the World Bank, Mr Ousmane Diagana pays a courtesy visit to Baze University

      World Bank Vice President visits Baze University, Commends Educational Standards, Assures…

      NIPR President Ike Neliaku and a recently inducted PR professional from Kano

      PHOTOS: NIPR Inducts 80 New PR Professionals in Kano to its…

    • PR Nigeria Award
  • E-Paper
Home Economy Reps Approve N17.126tr budget for 2022 fiscal year
  • Economy

Reps Approve N17.126tr budget for 2022 fiscal year

By
Prnigeria
-
December 21, 2021

Reps Approve N17.126tr budget for 2022 fiscal year

…approve NN215.811bn for FIRS

…extend implementation of 2021 budget by 90 days

The House of Representatives on Tuesday approved the sum of N17.127 trillion budget for 2022 fiscal year, against the sum of N16.391 trillion proposed in the budget estimates submitted by President Muhammadu Buhari.

The 2022 Appropriation bill was increased by N736 billion.

Breakdown of the budget showed that Statutory Transfer is to gulp N869.667 billion; Recurrent Expenditure of N6.910 trillion; Capital expenditure of N5.467 trillion and Debt Services of N3.870 trillion for the year 2022.

From the total of N10.741 trillion approved revenues, Share of Federation revenues stands at N5.526 trillion; N2.216 trillion as Independent revenues; N195.716 billion as dividends; N62.377 billion as Aid and Grants; N300 billion as Special Funds/Accounts – Receipts; N1.728 trillion as Government-Owned Enterprises (net of Operating Surplus)

The House also approved the 1.88mbpd as daily oil production; $62 oil benchmark price; N410/$ exchange rate; 4.2% GDP growth rate and 13% inflation rate for the 2022 fiscal year

Under the Statutory transfers, National Judicial Council is to get N120 billion; Niger Delta Development Commission – N102.783 billion; Universal Basic Education – N112.287 billion; National Assembly – N139 billion; Public Complaints Commission – N11.190 billion; Independent National Electoral Commission (INEC) – N219.544 billion; National Human Right Commission – N4.500 billion; North East Development Commission – N48.076 billion; Basic Health Care Fund – N56.144 billion and National Agency for Science and Engineering (NASENI) – N56.144 billion, respectively

Breakdown of the National Assembly budget showed that the sums of N19.116 billion is National Assembly Office; N33.267 billion – Senate; N51.995 billion for House of Representatives; N7.734 billion for National Assembly Service Commission; N9.602 billion for Legislative Aides; N118.970 million for Senate Public Account Committee; N142.764 million for House Committee on Public Account; N8.308 billion for General Services; N7.374 billion for National Institute for Legislative and Democratic Studies (NILDS); N471.335 million for Service Wide Vote; N581.848 million for Office of Retired Clerks and Permanent Secretaries; N125 million for Senate Committee on Appropriations and N165 million for House Committee on Appropriations

The sum of N100 billion was also approved for Zonal Intervention Projects; N10 billion for National Assembly liabilities; N300 million for National Assembly e-Library; N139 million for National Assembly Dashboard; N1 billion for Constitution review and N20 billion for Special Intervention projects.

Read Also:

  • Customs Consolidates Reforms as Reputation Campaign Wraps Up in Zone ‘D’
  • Navy Dismantles Illegal Refining Site in Bayelsa
  • Is Zacch Adedeji Building Bridges for Nigeria’s Revenue Future? By Yushau A. Shuaib

Under the Recurrent (Non-Debt) Expenditure, the House approved the sums of N350 billion for National Social Investment Programme (NSIP); N4 billion for Employee Compensation Fund; N30 billion Contingency (Recurrent); Treasury Single Account (TSA) – N1 billion; N50 billion for Police Operations Fund; N50 billion for Hazard Allowance for health workers; N50 billion for Enhanced Allowance for Nigeria Police; N300 billion for national Poverty Reduction with Growth Strategy (FG commitment, including NSIP upscaling); N40 billion for settlement of MDAs electricity bills debt; N65 billion for Presidential Amnesty Programme: Reintegration of transformed ex-Militants; N115 billion for military operations: Lafiya Dole and other operations of the Armed Forces; N1 billion for severance benefits to retired Heads of Government Agencies and parastatals; N2.300 billion for entitlements of former Presidents/Heads if States and Vice Presidents/Chief of General Staff; N125 billion for Pension Protection Fund; N10 billion for benefits of retired Heads of Service and Permanent Secretaries an Professors; N11 billion for arrears of pension liabilities; N30.064 billion for defunct privatized agencies pension; N125 billion for payment into redemption fund.

The House also approved increase in the oil price benchmark from $57 to $62; increased the deficit by N98 billion to accommodate some other requests of national importance not provided for in the budget estimates and which could not be covered by the revenue increase.

Also during plenary, the House approved the extension of the implementation of the 2021 Appropriation Act by 90 days.

The resolution was passed sequel to the adoption of a motion sponsored by the Majority Leader, Hon. Alhassan Ado-Doguwa urged the House to extend the implementation of the 2021 Appropriation Act by 90 days.

The House also approved the virement of N276.757 billion from the N13.588 trillion approved in the 2021 Appropriation Act as well as N983 billion approved in the Supplementary Appropriation Act, on July 26″, 2021.

Speaking earlier, Hon. Gbajabiamila reiterated the resolve of the 9th National Assembly towards improving the appropriations process to ensure more effective and efficient allocation and use of our national resources.

According to him, “a recurring challenge is how best to ensure that the ministries, departments and agencies of the Federal Government adhere strictly to the letter of the appropriation law. This is a subject of grave concern, especially now when we must contend with the reality of limited resources amid significant developmental challenges. Therefore, in the new year, the House of Representatives will explore further options for legislative action in this regard.

“During consideration of the 2022 Appropriation Bill, we were inundated with requests for funding from Ministries, departments and agencies of government, all of whom require additional funding to effectively discharge their mandates. We recognise the genuine urgency of many of these requests and we have tried within the reality of limited revenues to meet the most critical needs.

“However, one thing that is now abundantly clear, is that the legislature needs to act to reform the envelope system currently in place because it imposes conditions that do not make for optimal outcomes. At the same time, we must begin also to consider options for merging agencies where there is a significant overlap in functions and responsibilities, and scrapping other institutions where their utility is no longer apparent.”

The House also approved the N215.811 billion budget for Federal Inland Revenue Service (FIRS), out of which the sum of N119.068 is for Personnel cost, N60.016 billion is for Overhead cost and N35.097 billion is for capital expenditure for year 2022.

In the same vein, the House passed through Third Reading the Finance Bill which seeks to amend the Capital Gains Tax Act, Companies Income tax Act, Federal Inland Revenue Service (Establishment) Act, Personal Income Tax Act, Tertiary Education Trust Act (Establishment) Act, Value Added Tax Act, Insurance Act, Nigeria Police Trust Fund (Establishment) Act, National Agency for Science and Engineering Infrastructure Act, Finance Control and Management Act, Fiscal Responsibility Act and for other related matters.

After the end of the plenary, the House adjourned plenary till 18th January, 2022.

By PRNigeria

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 fiscal year
  • budget
  • Hon. Alhassan Ado-Doguwa
  • President Muhammadu Buhari
  • Reps
Previous articleFRSC Deploys 300,000 Personnel for End-of-the-Year Patrol
Next articleCourt Clears Kenneth Aniebo of Passport Racketeering Charges
Prnigeria
Prnigeria
Xing

RELATED ARTICLESMORE FROM AUTHOR

Police Recover arms from Boko Haram in Borno

Man, 65, arrested for illegal arms deal in Anambra – Police

Delegations Arrive Abuja for Inaugural African Defence Chiefs Summit

Troops of Operation FANSAN YANMA

Troops Neutralise 7 Bandits, Recover Motorcycles in Katsina

CRUSHING BLOW: other Top Boko Haram commanders neutralized in Bita, Wigo

Rotimi Pedro, Karimah Bello, Stella Din Jacob, Sophia Essahmed

PHOTOS: Finally, President Tinubu Confirms Pedro as NTA DG, Announces Three Female Executive Directors

Nigerian Military Refutes Misinterpretation of CDS Self-Defence Comment

Anambra Police Nab Suspected Vandals, Recover Transformer Parts, High-Tension Cables

Tinubu Jets to Brazil After Japan Summit, Eyes Trade, Security Deals

Saudi Arabia Conducts Life-Saving Cardiac surgeries in Kano

Saudi Arabia Conducts Life-Saving Cardiac Surgeries in Kano

Chief of Defence Staff (CDS), Gen. Christopher Musa

CDS Musa Charges Citizens to Learn Combat Skills for Self-Defence

Officers of MNJTF and OPHK assessing Lake Chad Operations

Counter-Terrorism: ​MNJTF, OPHK Commanders Assess Lake Chad Operations

CP Ikiouye Orutugu

Anambra Police Arraign Four Over Child Defilement

Recent Posts

  • Police Arrest 65-Year-Old Arms Trader, Suspected Chinese Illegal Miner in Anambra
  • Customs Consolidates Reforms as Reputation Campaign Wraps Up in Zone ‘D’
  • Navy Dismantles Illegal Refining Site in Bayelsa
  • Is Zacch Adedeji Building Bridges for Nigeria’s Revenue Future? By Yushau A. Shuaib
  • Mattress of Terror: Can Nigeria Ever Be Truly Secure? By Haroon Aremu Abiodun
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
Police Arrest 65-Year-Old Arms Trader, Suspected Chinese Illegal Miner in AnambraCustoms Consolidates Reforms as Reputation Campaign Wraps Up in Zone ‘D’Navy Dismantles Illegal Refining Site in BayelsaIs Zacch Adedeji Building Bridges for Nigeria’s Revenue Future? By Yushau A. ShuaibMattress of Terror: Can Nigeria Ever Be Truly Secure? By Haroon Aremu AbiodunArewa Consultative Forum Engages Influencers to Amplify Northern IdentityMan, 65, arrested for illegal arms deal in Anambra - PoliceDelegations Arrive Abuja for Inaugural African Defence Chiefs SummitTroops Neutralise 7 Bandits, Recover Motorcycles in KatsinaCRUSHING BLOW: other Top Boko Haram commanders neutralized in Bita, WigoPolice Command Moves to Address Protest Concerns in AnambraPHOTOS: Finally, President Tinubu Confirms Pedro as NTA DG, Announces Three Female Executive DirectorsNigerian Military Refutes Misinterpretation of CDS Self-Defence CommentCDS, Katsina Lawmakers Strategize to Tackle BanditryFG, States, LGs Share N2.001trn for July, Says FAAC
X whatsapp