President Muhammadu Buhari has arrived at the national assembly to present the 2022 appropriation bill.
He was immediately received by the Senate President, Dr Ahmad Ibrahim Lawan, and the Speaker of the House of Representatives, Hon. Femi Gbajabiamila.
The president will lay the appropriation bill before a joint session of the national assembly at the lower legislative chamber.
On Wednesday, the national assembly passed the revised medium term expenditure framework (MTEF) and fiscal strategy paper (FSP) — parameters on which the 2022 budget will be framed.
In the revised MTEF, the president jerked up the total expenditure of the federal government in 2022 fiscal year to N16.45 trillion.
Buhari had explained that the needed adjustments were important to reflect “the new fiscal terms in the Petroleum Industry Act (PIA)”.
In July, the federal executive council (FEC) approved N13.98 trillion as the proposed 2022 budget sum before the PIA was passed.
After working on Buhari’s request, the senate committee on finance pegged the federal government’s total expenditure at N16.39 trillion, reducing what the president sent by N60 billion.
Buhari is also expected to brief the federal lawmakers on what his administration has been able to achieve with the 2021 budget.
