House of Representatives has raised 2022 budget by N735bn to N17.13tn.
EKO HOT BLOG reports that the House of Representatives on Tuesday passed N17.126 trillion as the budget for the 2022 fiscal year. It was increased by N735.8 billion.
The appropriation bill was passed by the chamber after the Chairman of the Committee on Appropriations, Muktar Betara presented a report.
Betara, while presenting his report, said the oil price benchmark for the 2022 bill has been increased from $57 per barrel proposed by the executive to $62 to “reflect the current market values of the oil barrel in the international market”.
Betara added that the bill is of much significance because it would be the last full-year budget to be implemented by the current administration.
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