BREAKING: House of Reps Passes Revised MTEF Within 24 Hours
- Members of the Nigerian House of Representatives took an important decision on Wednesday, October 6
- The House unanimously approved the 2022-2024 Medium Term Expenditure Framework during its plenary on Wednesday
- This rather fast decision came barely 24 hours after President Muhammadu Buhari presented the papers to the lawmakers for adoption
The House of Representatives on Wednesday, October 6, passed the revised 2022-2024 Medium Term Expenditure Framework and Fiscal Strategy Paper.
The passage came less than a day after President Muhammadu Buhari presented the executive bill for amendment, Punch reports.
Source: Facebook
The House committee on Finance at the plenary on Wednesday considered and adopted the report on Wednesday.
Senate reveals when Buhari will pesent 2022 budget
Earlier, according to the Senate, President Muhammadu Buhari would be presenting the 2022 Appropriation Bill to a joint session of the National Assembly on Thursday.
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Ovie Omo-Agege, the deputy Senate president, made this revelation during plenary on Tuesday.
Omo-Agege also disclosed to members of the National Assembly the president has submitted the revised 2022-2024 MTEF and Fiscal Strategy Paper (FSP).
President Buhari has called on NASS to approve the planning documents which would form the assumptions in the 2022 budget, adding that the revision showed the new fiscal terms in the Petroleum Industry Act and the 2022 Appropriation Bill.
The president explained that the revision will reflect funds for the Independent National Electoral Commission (INEC) ahead of the next general elections.
Finance Minister, Zainab Ahmed, gives details on 2022 budget spending
Meanwhile, the Nigerian government was planning to spend N3.6 trillion on capital expenditure in 2022, the Minister of Finance, Budget and National Planning, Zainab Ahmed, said.
Ahmed made this known while discussing the 2022 budget of the Federal Government which has been put at N13.98 trillion, against N13.6 trillion of 2021.
She stated this in Abuja at a public consultation on the Medium Term Expenditure Framework/Fiscal Strategy Paper for 2022-2024. While next year's budget was higher than that of 2021, the capital expenditure for 2022 is lower than the N4.37 trillion spent this year, with a difference of N758 billion.
Source: Legit.ng
