President Buhari Signs 2022 Budget And Finance Bill Into Law

President Muhammadu Buhari on Friday signed the 2022 appropriation bill into law. He also signed the 2021 finance bill into law, Naija News reports.

Buhari signed the two bills into law at a brief event at the Aso Rock Villa in Abuja.

It will be recalled that the National Assembly increased the 2022 budget figures from N16.391tn to N17.126 trillion and forwarded the same to the President for his assent.

On Friday, while signing the bill, President Buhari appreciated the two chambers of the National Assembly – Senate and House of Representatives for fast-tracking action on the budget figures.

President Buhari signs 2022 budget into law

He also appreciated the corporation of the current crop of legislators with the executive in discharging their constitutional responsibilities.

“I am delighted to sign into law today the 2022 appropriation bill as well as the enabling 2021 finance bill.

“I would like to thank the senate president, the Speaker of the House of Representatives, and indeed all the Distinguished and Honourable Leaders and members of the national assembly for the expeditious consideration and passage of these bills.

“I also appreciate the continuing cooperation and commitment of the Ninth National Assembly to the restoration of a predictable January to December fiscal year, as provided for in the constitution of the Federal Republic of Nigeria,” Buhari said.

The President however expressed reservations to some of the changes made by the National Assembly to the figures submitted by the executive.

“The 2022 budget that I just signed into law provides for aggregate expenditures of N17.127 trillion, an increase of N735.85 billion over the initial Executive Proposal for a total expenditure of N16.391 trillion. N186.53 billion of the increase however came from additional critical expenditures that I had authorised the minister of finance, budget and national planning to forward to the national assembly. The Minister will provide the public with the details of the budget as passed by the national assembly, and signed into law by me.

“As I mentioned during the presentation of the 2022 appropriation bill, the fiscal year 2022 is very crucial in our efforts to complete and put to use critical agenda projects, as well as improve the general living conditions of our people.

“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,” Buhari said.

The President was flanked by Senate President Ahmad Lawan, House Speaker Femi Gbajabiamila, SGF Boss Mustapha, and Finance Minister Zainab Ahmed while signing the bill into law.