President Muhammadu Buhari will sign the 2022 Appropriation Bill on Friday, the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, confirmed this to media men in Abuja.
He said the 2022 budget has been transmitted by the National Assembly and the President will sign the bill into law by 10 am.
This comes barely a week after lawmakers in the House of Representatives and Senate chambers of the National Assembly passed a budget of N17.126 trillion, increasing the benchmark price of crude from $57 to $62 per barrel.
A communication addressed to the Presidency by the Clerk to the National Assembly, Mr Ojo Amos was sighted. The document, with Reference Number NASS/CNA/37/Vol.1/35, indicated that the budget was transmitted last Friday and received by the Office of the Chief of Staff to the President on Saturday.
According to the document, it stated, “In consonance with the Provisions of the Acts Authentication Act Cap. A2, Laws of the Federation of Nigeria, 2004, I wish, with due respect, to forward to Your Excellency, the authenticated copies of Appropriation Bill, 2022, for your consideration and assent.
“After Your Excellency’s assent, one copy of the signed bill should be retained in your office while the other two are to be returned for our further action, please.
“With my highest regards.”
Signing the budget before the end of the year will enable Nigeria to continue on the path of a one-year budget cycle.
The House of Representatives and the Senate passed the Federal Government’s budget on Tuesday and Wednesday last week, respectively, raising the total estimates from the proposed N16.391tn to N17.126tn.
The oil benchmark was raised from the proposed $57 per barrel to $62.
President of the Senate, Ahmad Lawan, had said the budget would be transmitted to Buhari by Thursday.
The National Assembly had from the 2020 budget returned the country to a January-December budget cycle.
Buhari had signed 2021 Appropriation Bill into law on January 1, 2021, while it’s life cycle was expected to expire on December 31, 2021 but for the recent extension of the lifespan of its capital component three months by the National Assembly.
The President is expected to assent to the money bill by Saturday.
