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JUST IN: Reps pass 2022 budget

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The House of Representatives on Tuesday passed the 2022 Appropriation Bill presented to the National Assembly by President Muhammadu Buhari.

Reps pass 2022 budget, adjust estimate by N900bn

The House passed the 2022 appropriation estimate with a significant increase due to an increase in the oil benchmark from $57 per barrel to $62 per barrel.

Ripples Nigeria had reported that President Muhammadu Buhari had presented a N16.39 trillion estimate, however, the House approved N17.126 trillion, an increase of about N900 billion.

The passage followed the adoption of the report of the Committee on Appropriations by the Committee of Supply submitted by its Chairman, Maktar Batera (APC, Borno).

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The Committee on Supply had considered the report and passed it.

In his statement, Batera noted that the additional revenue will be allocated to the agencies that came forward with reports that were not captured in the budget.

According to the lawmaker, the agencies are the Independent National Electoral Commission (INEC) for the 2023 election, the Federal Ministry of Works and Housing, the National Assembly (Constituency outreach), Federal Ministry of Water Resources, and the National Population Commission (NPC) for the 2022 population census.

INEC had requested an additional N305 billion to the annual N40 billion budget to execute the 2023 general elections.

Consequently, the Speaker, Femi Gbajabiamila, considered the report on a clause by clause basis and approved the recommendations without changes.

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