Buhari Presents 2022 Budget Thursday, Lays It at FEC Tomorrow

All things being equal, President Muhammadu Buhari, has been scheduled to present the 2022 budget proposal before the National Assembly this Thursday.

This, however, would be after he would have presented same to the Federal Executive Council (FEC) tomorrow, a source in the presidency told THISDAY last night.

According to the source, finishing touches were being put to the budget ahead of the Thursday presentation at the federal legislature.

The presidency source further informed that the rescheduling of the ministerial retreat earlier billed for Monday and Tuesday this week might not be unconnected to the preparations for the budget presentation by the president.

The source claimed that the president did not take with levity, the resolve of the administration to take the budget cycle back to the January to December calendar, hence, the seriousness with which all ministries, agencies and parastatals had since taken the budgeting process.

Although the source declined to hint at the possible content of the budget as it were, the federal government had sometime in August this year, said the ministries of works and housing; finance, budget and national planning; and defence would get the highest capital allocations in the 2022 budget.

A 2022 budget call circular published by the Budget Office and signed by the Minister of Finance, Budget and National Planning, Zainab Ahmed, set out the requirements and instructions that must be satisfied and followed in the preparation of the 2022 budget proposal.

A breakdown, according to the circular, showed that the ministry of works and housing was to get the highest allocation of N352.65 billion out of the entire N1.759 trillion capital expenditure for ministries, departments and agencies (MDAs) in the 2022 budget.

The ministry of finance, budget and national planning came next on the list with N158.07 billion.

However, the circular noted that the amount included N150 billion for Power Sector Recovery Program Transfer to the Nigerian Bulk Electricity Trading (NBET).

But trailing the two ministries was defence with N128.94 billion and transport with N120.6 billion proposed estimate.

Other ministries with high capital allocation included health (N108.29 billion), education (N100.75 billion) and water resources (N86.72 billion).

These, however, were followed by agriculture and rural development (N83.82 billion); aviation (N69.3 billion); trade and investment (N51.08 billion); science and technology (N48.33 billion); national security adviser (N43.14 billion); power (N40.24 billion); interior (N39.64 billion); police affairs (N32.34 billion); presidency (N25.82 billion), among others.

“The thrust of the FGN’s capital expenditure programme in 2022 will be completion of as many ongoing projects as possible, rather than starting new projects.

“Thus, MDAs are hereby advised that new projects will not be admitted into the capital budget for 2022, unless adequate provision has been made for completion/work program of all ongoing projects,” the document stated.

Add Comment

Click here to post a comment

Madame Insights Wellness Videos