The House of Representatives on Tuesday approved N17.12 trillion as the 2022 budget.
The lawmakers have jacked up the oil benchmark from $57 per barrel to $62 per barrel, thereby increasing the estimate to N17.12 trillion from the N16.39 trillion proposed by the executive.
The budget was passed following the adoption of the report of the House Committee Appropriations submitted by its chairman, Muktar Batera (Borno, APC).
The House Committee on Supply had considered the report and passed.
On October 7, 2021, President Muhammadu Buhari had presented the 2022 estimate to the joint session of the National Assembly.
The lawmakers said the additional revenue will be allocated to the agencies that came forward with additional reports that were not captured in the budget.
The agencies include the Independent National Electoral Commission (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 (for the 2022 population census).
Recently, INEC had requested an additional N305 billion to the annual N40 billion budget to conduct 2023 general elections.
