JUST IN: Senate Amends 2022 Appropriation Act

JUST IN: Senate Amends 2022 Appropriation Act

The Senate amended the 2022 Appropriation Act on Wednesday to move the implementation date from December 2022 to March 2023.

The amendment to the 2022 Appropriation Act, according to the Upper chamber, is to ensure the implementation of key capital projects in the act that have not yet been funded.

To avoid the problem of abandoned projects, the Senate believes that the capital budget should be extended.

Meanwhile, the Senate has approved the Supplementary Budget for 2022.

Read Also Can You Marry Her? – See What This Lady Was Captured Doing Inside The Kitchen With A Cucumber (VIDEO)

President Muhammadu Buhari requested that the N819.5 billion Supplementary Budget be passed, with the funds coming from additional domestic borrowing.

The supplementary budget is intended to address food security in the aftermath of the country’s devastating floods, as well as damage to road infrastructure and the water sector.

The supplementary budget will be funded through additional borrowing, bringing the budget deficit to 8.17 trillion naira.

The Senate Finance Committee recommended that the Senate approve the supplemental budget. The additional budget is for the ministries of Agriculture, Water Resources, FCT, and Works.

For More News Join Our WhatsApp Group With This Link Below

https://chat.whatsapp.com/HlD7kmxUzAc2lwlP7yuXzk