President Muhammadu Buhari has signed the 2022 Appropriation Bill into law.
The budget, valued at N17.126 trillion, was transmitted to the President by the National Assembly on Christmas Eve, December 24.
The President also signed the Finance Bill 2021, which he said was critical to the execution of the 2022 budget.
Recall that President Buhari had submitted the draft proposed 2022 budget of N16.391trillion to the joint session of the National Assembly on October 7, calling on the legislators to give it a speedy consideration.
The breakdown of the budget include N869 billion for statutory allocation, N3.8 trillion for debt servicing, N6.9 trillion and N5.4 trillion for recurrent and capital expenditure respectively.
The oil benchmark was raised from the proposed $57 per barrel to $62.
The projected oil production is put at 1.88million barrels per day, including condensates.
However, according to a statement by the Senior Special Assistant to the President (Media & Publicity), Garba Shehu, on FridayBuhari expressed strong reservations on the ‘‘worrisome changes’’ made by the National Assembly to the 2022 Executive Budget proposal.
