During the presentation, everything was set ready for the 2022 budget to be presented to the House of Representatives and the Senate representatives were all present at the event.
The president was expected to arrive at parliament around 11a. m. The senators have to postponed their session to rush to the House of Representatives where President Buhari will meet them.
The request was made by the Speaker of the House of Representatives, Senator Yahaya Abdullahi, and the Speaker of the House of Representatives, Eyinayya Abaribe.
Security was tightened when President Buhari was about to present the 2022 budget today
It was reported earlier that President Muhammadu Buhari presented the draft of 2022 budget to the joint sitting of the National Assembly on Thursday.
The Vice President of the Senate, Ovie Omo- Agege, made the announcement on Tuesday, October 5, at the Senate Hall in Abuja. He made the announcement while presiding over the session when Senate President Ahmad Lawan wasn’ t at the meeting.
Buhari presented his speech and the budget to the legislate
President Muhammadu Buhari delivered his speech by introducing the N16tr budget. Now that he had planned to leave the parliament.
President Muhammadu Buhari’ s Speech goes thus
The president said: ” I thank you MPs for your efforts in approving the MTEF. ” ” He said: I will make some further remarks later, ” the finance minister said in detail. You will recall that in the past we said we would stop paying fuel subsidies and now let the market decide the price, but when we saw a liter of oil started to reach N155, we thought it was impossible.
” That was why we continue to pay for the fuel subsidy and that affects the projects we intended to do financially. ” Despite the lack of funds, we are paying everyone their salaries and even on October 1, we released N1. 73tr for some major projects.
We have had success in building the Lagos- Ibadan, Kaduna- Abuja, and Itakpe- Warri railway lines after 30 years of construction. Completion is planned for Ibadan- Kano, Calabar- Lagos which connects the South and the North. ” We are continuing to complete the Lagos- Ibadan, Abuja- Kano, EastWest roads before our deadline expires in 2023. ”
Information on the 2022 budget, we call this budget” Community Development Budget. ”
See the estimated budget as stated below:
- Crude oil price- $ 57 per barrel
This will be done on a $ 1. 88 million daily basis
Dollar Price- N410. 15 / US $;
Revenue of N3. 16 trillion
Tax revenue- N2. 13 trillion. 6. GDP 4. 2%
Expenditure expected to be spent in 2022- 16. 39tr
Payroll- N6. 8tr
Fansho, gratuti- N577bn
Major services- N5. 35tr
Debt Consolidation- N3. 61tr
The amount we will need in the future to implement the budget- N6. 22tr
Amount of money to be borrowed- N5. 01tr
The president said: ” Some people were talking about the loans we are taking, yes, but the loans we are taking are not so much yet, we are still on the road. ” ” We have used these loans for the benefit of our community. ”
Project to be completed: –
Complete road and railway works
Medical and health services (purchase of coronary heart disease, etc. )
The Senate President began his inaugural address
He added that: ” Nigerians are benefiting from the speedy launch of the 2021 budget. ” ” This has helped the country to make progress despite the COVID- 19 epidemic. ”
” Taxation is still a big problem for our country. The legislature has taken steps to ensure that government ministries generate revenue. ”
” We understand that this government has to take loans to do its job and that is why we are trusting, but we still have to find a way to make money. ” ” I urge you (President Buhari) to start implementation of the PIA. ” , he added.
President Buhari also addressed the National Assembly
At around 12: 06, President Muhammadu Buhari arrived at the National Assembly to present the 2022 budget. Buhari was accompanied by senior ministers and ministers. Senate President urged Senator Opeyemi Bamidele to open the meeting with Christian prayers, while Congressman El- Makky Liman will pray for Muslims.
At this point in time, the President of the Senate and other Nigerian senators arrived at the House of Representatives. President Muhammadu Buhari is now being listened to.
See When the Federal Parliament will pass the 2022 budget read by the President
Senator Ahmad Lawan, President of the Senate, has announced that the National Assembly will pass the 2022 budget before the end of 2021.
The Speaker made the remarks while addressing a joint sitting of the National Assembly presented by President Buhari He also said the budget would be introduced before the end of the year to allow for the maintenance of the new budget system.
Senate President Ahmad Lawan says the National Assembly has decided to pass the 2022 budget before the end of this year.
Lawan, in his address at the budget presentation, recalled how the 9th Federal Parliament had promised to return Nigeria to the January- December budget and 2020 budget and that was possible.
He added that a similar repeat of the 2021 budget has been repeated as reported by Punch newspaper. While thanking President Muhammadu Buhari for the early presentation of the budget, the Senate President said lawmakers would present the budget before the end of 2021.