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2022 budget: Defence, infrastructure, education get lion share

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2022 BUDGET

 

The breakdown of the 2022 budget has shown that defence & security, infrastructure, education and health are allocated the larger chunk of Nigeria’s 2022 national budget of N16.39 trillion appropriated for the year.

The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed disclosed this at the public presentation and breakdown of the highlights of the 2022 appropriation bill at the ministry’s auditorium in Abuja on Friday.

From the allocation, defence and security got N2.41 trillion (15%); infrastructure N1.45 trillion (8.9%); education NN1.29 trillion (7.9%); health N820 billion (5%) and Social Development and Poverty Eradication N863 billion (5.3%) of the entire allocation.

President Muhammadu Buhari had on Thursday presented the 2022 aggregate expenditure projected to be N16.39 trillion which is 12.5% higher than the 2021 budget to the National Assembly.

A breakdown of N16.39 trillion estimated budget shows that recurrent spending for the projected year is N6.83 trillion, repressing 41.7% of total expenditure and 18.5% higher than the 2021 budget.

READ  Expect more jobs in 2022, Buhari assures Nigerians

From the estimate, aggregate capital expenditure of N5.35 trillion is earmarked, representing 32.7% of total expenditure.

This provision is inclusive of capital components of statutory transfers , GOEs capital and project-tied loans expenditures.

The minister said a total sum of N10.132 trillion revenue is expected be raked in within the year under review to fund the budget, while N3.60 trillion was earmarked to fund debts.

 

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Good Morning! Here Are Some Major News Headlines In The Newspapers Today: Military commander killed in ambush by bandits in Katsina

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1. Military commander of an army camp located at Sabon Garin Dan’Ali, in Danmusa local government area of Katsina state has been killed in an ambush. Sources said the incident happened Thursday evening and the corpse of the deceased, a major in the army, was deposited at a hospital in Katsina.

 

2. Movement would be restricted for the duration of today’s local government election in Oyo State, the State Government announced on Friday evening. The restriction will help officials of the Oyo State Independent Electoral Commission, OYSIEC, to conduct the poll without hindrance.

 

3. Senate President Godswill Akpabio, the Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas and the Deputy President of the Senate, Senator Barau Jibrin, were among the dignitaries who attended the wedding fatiha of the children of emirs of Kano and Bichi, Alhaji Aminu Ado Bayero and Alhaji Nasiru Ado Bayero, on Saturday.

READ  Two of Alaafin of Oyo’s favourite Queens relocate to the United Kingdom with their children

 

4. President Bola Tinubu has approved the appointment of Mr. Jim Ovia, renowned banker and businessman, as the Chairman of the Board of the Nigerian Education Loan Fund, NELFUND. This is contained in a statement issued by Ajuri Ngelale, Special Adviser to the President on Media & Publicity, on Friday.

 

5. Governor Hyacinth Alia of Benue State, on Friday, urged his predecessors including Chief Samuel Ortom, to refrain from interfering in his administration, warning that he would not allow anyone to destabilise his government. Alia while briefing journalists on his return from the USA, Friday morning, said the past governors have had their own term.

 

6. The National Chairman of the ruling All Progressives Congress, APC, Dr Abdullahi Ganduje, has said the New Nigeria People’s Party, NNPP, led government in Kano State is behind the various protests against him in Abuja. Ganduje in a statement by his aide, Comrade Okpokwu Ogenyi, alleged that the Kano government had been hiring protesters from the streets, mostly Kwankwasiyya members, some of whom are from the North Central geo-political zone to demand his resignation.

READ  Buhari outraged over Gulak’s murder, vows to ensure perpetrators are brought to justice

 

7. The American International School of Abuja has paid $760,910.84 to the Economic and Financial Crimes Commission, EFCC, from the $845,852 school fees allegedly deposited by former Kogi State governor, Yahaya Bello in respect of five of his children in the school.

 

8. Bandits have attacked the palace of the Emir of Zurmi, Alhaji Bello Muhammad Bunu, killing three people and abducting some residents of the town. The bandits, who stormed the town around 10pm on Wednesday, according to locals, also attacked the residence of the former Military Administrator of Nasarawa State, Colonel Bala Muhammad Mande (rtd).

 

9. The Nigeria Correctional Service has stepped up efforts to track down and recapture escaped inmates of the Suleja Medium Security Custodial Centre, Niger State. The Minister of Interior, Olubunmi Tunji-Ojo, on Thursday, said the government would relocate a lot of correctional centres to create better infrastructure and security.

 

10. Men of the Economic and Financial Crimes Commission, assigned to tackle currency mutilation, dollarisation of the economy, and forex malpractice, have arrested 34 suspected currency speculators accused of foreign exchange fraud. This was made known in a statement shared on the commission’s website on Friday.

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UPDATED: Tinubu appoints Jim Ovia as chairman of education loan fund

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President Bola Tinubu has appointed Jim Ovia as the chairman of the Nigerian Education Loan Fund (NELFUND).

 

Ajuri Ngelale, presidential spokesperson, announced the appointment of Ovia, chairman of Zenith Bank, in a statement on Friday.

 

Ngelale said Tinubu believes that Ovia will bring his immense wealth of experience to ensure that no Nigerian student suffers a paucity of funds in the quest for tertiary education.

 

On April 3, Tinubu signed the student loans amendment bill into law to provide Nigerians with quality and accessible education.

 

The law will allow Nigerian students in tertiary institutions to access low-interest loans for tuition and other academic needs.

 

Subsequently, the president appointed Akintunde Sawyerr as the managing director and chief executive officer (CEO) of the fund.

 

Tinubu also appointed Frederick Oluwafemi Akinfala as the executive director of finance and administration, while Mustapha Iyal will serve as the executive director of operations of NELFUND.

READ  Expect more jobs in 2022, Buhari assures Nigerians

 

 

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JUST IN: Tinubu appoints Jim Ovia as chairman of education loan fund

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President Bola Tinubu has appointed Jim Ovia as the chairman of the Nigerian Education Loan Fund (NELFUND).

 

Ajuri Ngelale, presidential spokesperson, announced the appointment of Ovia, chairman of Zenith Bank, in a statement on Friday.

More to follow…

 

READ  Good morning! Here Are Some Major News Headlines In The Newspapers Today: Kuriga: We’ll make our schools safe, secure – Tinubu
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