Entertainment
Nigerian Senate Passes Country’s Budget For 2022 Financial Year
Nigerian Senate has passed Nigeria’s budget for the 2022 financial year.
Yesterday, the Senate passed the budget after they added 800 billion naira to increase the first estimated budget of N16.4 trillion, which President Buhari presented, to N17.126 trillion.
This latest development happened a day after the House of Representatives had already passed the budget
Read More: President Buhari Reveals Why He Did Not Assent To The Electoral Act Amendment Bill
The Senate also increased the oil benchmark price from $57, which the executive arm of government had proposed, to 62 dollars to reflect the current international market condition.
But they left the exchange rate as it was at N410.15.
They passed the budget after they considered the recommendations from the report, which was presented by the chairman of the Nigerian Senate Committee on Appropriation, Barau Jibrin.
According to Chiarman’s presentation, 869.6 billion naira is for statutory transfers, 3.8 trillion naira is for debt service, 6.9 trillion naira is for recurrent expenditure, and 5.4 trillion naira is for capital expenditure.
Read More on NewsPlanet Nigeria
- Entertainment6 days ago
“My AMVCA Outfit Costs 140 Million Naira ($100,000)” – BBNaija’s Tacha (Video)
- Entertainment4 days ago
BBNaija’s Vee Reveals New Plans When She Turns 30
- Entertainment6 days ago
“In my next life I’ll choose you” – BBTitans’ Yvonne Expresses Heartfelt Appreciation For Boyfriend, Juicy Jay
- Entertainment6 days ago
AMVCA 10: ‘I’ll keep winning until further notice’ – Beauty Tukura Brags As She Emerges Best Dressed For Second Year In Row
- Entertainment3 days ago
“Why I’ll Stop Hugging Anyone Even My Colleagues” – BBNaija’s Vee