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President Buhari Submits N30.67 Million to Fuel Aso Rock Generator, Plant, N33.2 Million for New Books in 2022
Business and Economy

President Buhari Submits N30.67 Million to Fuel Aso Rock Generator, Plant, N33.2 Million for New Books in 2022

by  Dave Ibemere 2 min read
  • Legit.ng is providing a detailed breakdown of 2022 budget proposal presented in the National Assembly by President Buhari on Thursday, 7 October, 2021
  • The budget which is titled 'budget of Economic Growth and sustainability has an aggregate expenditure of N16.39 trillion
  • Further detail from the budget shows there will be a deficit of N6.26 trillion due to a revenue target of N17.70 trillion

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More details from the 2022 proposed budget have shown that Nigeria would spend significantly to ensure that the seat of power does not experience any power outages.

According to legit.ng analysis of the 2022 appropriation bill proposal submitted on Thursday, 7th October 2021, out of N16.39 trillion spending plan next year, N30.67 million will go into fueling statehouse generating set and plant.

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Nigerian government spends N41.9 billion on debt servicing in January alone

The document also revealed that the cost of cooking gas will gulp N22.07 million in 2022.

President Buhari Submits Budget
Buhari presents budget Source: Sunday Aghaeze/AFP
Source: Getty Images

Also the state house budget shows a total of N66.49 million will be spent on Aso Rock library.

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Out of this the amount, the upgrade of state house library will cost N25.28 million next year, and digital medical references of the library will gulp N7.96 million.

Also, the state house library will purchase books and equipment for N33.23 million.

Other interesting items in state house budget

Sporting activities at Aso Rock will gulp N20.18 million while N35.95 million will be spent for the purchase of sporting/gaming equipment.

Vice President Osinbanjo will be spending also N5.48 million on sporting activities and N2.35 million will go into cooking gas and fuel cost.

For the state house budget, newspapers would cost N26.43 million, books N8.5 million, while magazines and journals will cost N3.51 million.

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Dangote, other cement producers make over N156.55bn Profit from cement sales despite high production cost

Each Nigerian owes N160,000 due to FG's debt

Meanwhile, Legit.ng had previously reported that every Nigerian now owes about N160,000 due to the debt of the federal government.

It was gathered that over N21 trillion has been borrowed by President Buhari since he became the president in 2015. This means the president has borrowed at least N10 billion daily.

According to the Debt Management Office, Nigeria's total debt is about N33.1 trillion.

Source: Legit.ng

Authors:
Dave Ibemere avatar

Dave Ibemere (Senior Business Editor) Dave Ibemere is a senior business editor at Legit.ng. He is a financial journalist with over a decade of experience in print and online media. He also holds a Master's degree from the University of Lagos. He is a member of the African Academy for Open-Source Investigation (AAOSI), the Nigerian Institute of Public Relations and other media think tank groups. He previously worked with The Guardian, BusinessDay, and headed the business desk at Ripples Nigeria. Email: dave.ibemere@corp.legit.ng.

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