JUST IN: Senate passes 2022 appropriation bill of N17.126trn

Spread the love

The Nigerian Senate, on Wednesday, passed a N17.126trn budget for the 2022 fiscal year, raising the figure by N800 billion.

Though, this is coming after the House of Representatives passed the budget on Tuesday.

President Muhammadu Buhari had submitted a budget of N16.391 trillion to the National Assembly.

The Senate also raised the oil benchmark to $62 as against the $52 that was initially proposed by the executive, while the exchange rate was retained at N410.15.

The red carpet chamber said that the increase in oil price was to reflect the current market values of the oil barrel in the international market.

Leave a Reply

Your email address will not be published. Required fields are marked *