Following the passage of an aggregate expenditure of N17,126,873,917,692 trillion naira as budget for the 2022 fiscal year by the Senate and the House of Representatives, the President of the Senate, the National Assembly, Tuesday transmitted the document to President Muhammad Buhari for assent.
Recall that both the Lower and Upper Legislative Houses had raising the total estimates from the proposed N16.391tn to N17.126tn, just as the oil benchmark was raised from the proposed $57 per barrel to $62.
President of the Senate, Senator Ahmad Lawan had disclosed on Wednesday last week moments before the Senate proceeded on recess, that the National Assembly would last week Thursday transmit the 2022 budget to President Buhari for assent into law.
Lawan who had noted that the timely assent of the 2022 Appropriations bill into law would ensure the commencement of its implementation by January next year, stressed that businesses operating in the country as well as the economy stand to be impacted positively by the timely passage of the nation’s budget by the National Assembly.
The transmission of the 2022 Budget to President Buhari by the National Assembly was contained in a letter by the Clerk to the National Assembly, Ojo Amos.
The letter showed that it was transmitted on Friday and received by the Chief of Staff to the President, Professor Ibrahim Gambari on Saturday.
The letter of transmission, with Reference Number NASS/CNA/37/Vol.1/35, was addressed to the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria and titled ‘APPROPRIATION BILL, 2022, read, “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”.