President Muhammadu Buhari has signed the 2022 Appropriation Bill of N17.126 trillion into law. The President signed the budget presented to him by his Senior Special Assistant (Senate) on National Assembly, Senator Babajide Omoworare, on Friday at the Council Chamber of the Presidential Villa in Abuja, the Federal Capital Territory (FCT).
He was, however, displeased with some changes as well as major additions and reductions made by the National Assembly in critical projects ‘without justification’.
President Buhari highlighted some of the worrisome changes in the budget to include an increase in projected Federal Government independent revenue by N400 billion, reduction in the provision for Sinking Fund to Retire Maturing Bonds by N22 billion, and reduction of the provisions for the Non-Regular Allowances of the Nigerian Police Force and the Nigerian Navy by N15 billion and N5 billion respectively; all without any explanation.
He also expressed his reservations on the inclusion of new provisions totalling N36.59 billion for National Assembly’s projects in the Service Wide Vote, which he said negated the principles of separation of powers and financial autonomy of the Legislative arm of government.
The President was also concerned about the changes to the original Executive proposal in the form of new insertions, outright removals, reductions and/or increases in the amounts allocated to projects, as well as reduction of the provisions made for as many as 10,733 projects and the introduction of 6,576 new projects into the budget.