I Have My Reservations About The Several Changes To The 2022 Executive Budget Proposal – Buhari

Posted by: Folamidavid in News, Politics Dec 31, 2021

Muhammadu Buhari

Nigeria’s President, Muhammadu Buhari has signed into law the 2022 Appropriation Bill and the 2021 Finance Bill.

He recently signed the documents in the Presidential Villa in the presence of Senate President Ahmed Lawan, Speaker of the House of Representatives, Femi Gbajabiamila, and other members of the Federal Executive Council.

According to him, the N186.53 billion of the increase however came from additional critical expenditures that he had authorised the Minister of Finance, Budget, and National Planning to forward to the National Assembly.

Buhari added that he also has reservations about many of the changes that the National Assembly has made to the 2022 Executive Budget proposal.

His words, “The Minister will provide the public with the details of the budget as passed by the National Assembly, and signed into law by me.”

‘‘It is in this regard that I must express my reservations about many of the changes that the National Assembly has made to the 2022 Executive Budget proposal.”

‘‘Some of the worrisome changes are as follows:

‘‘Increase in projected FGN Independent Revenue by N400 billion, the justification for which is yet to be provided to the Executive:

‘‘Reduction in the provision for Sinking Fund to Retire Maturing Bonds by N22 billion without any explanation;

‘‘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.”

‘‘This is particularly worrisome because personnel cost provisions are based on agencies’ nominal roll and approved salaries/allowances;”

‘‘Furthermore, an increase of N21.72 billion in the Overhead budgets of some MDAs, while the sum of N1.96 billion was cut from the provision for some MDAs without apparent justification.”

‘‘Increase in the provision for Capital spending (excluding Capital share in Statutory Transfer) by a net amount of N575.63 billion, from N4.89 trillion to N5.47 trillion.”