Reps cut statutory transfer, approve N4 trn for fuel subsidy in amended N17.319 trn 2022 budget

 

.Police get additional N182.45bn operational funding

 

 

Jonas Ezieke, Abuja

 

 

The House of Representatives yesterday approved the sum of N4 trillion (Four Trillion Naira) in which statutory transfers received some cuts in the just amended 2022 Appropriation raising the total budget figure to N17.319,704,091.19.

 

 

It would be recalled that President Muhammadu Buhari, last week submitted the request for a revision of the 2022 appropriation following emerging global realities arising from ongoing armed conflict between Russia and Ukraine, aside the the previous amendment he requested with respect to insertions and removal of some items to make room for more critical areas of national concerns.

 

 

While presenting the Seven-point recommendations by the House Committee on Appropriation and Finance, the Committee Chairmen, Hon Muktar Aliyu Betara and. James Abiodun Faleke, also urged the House to approve a cut in the provision for Federally Funded upstream projects being implemented by N200 billion from N352.80 billion.

 

 

The report also called for an approval of additional provision of N182.45 billion to cater for the needs of the Nigeria Police Force.

 

 

It said: “That the House do consider the Report of the Committee on Finance on the Request by the President for Revision of the 2022 Fiscal Framework and approve the recommendations therein”.

 

 

“That the Oil price benchmark of US$73 per barrel be approved.

 

“That Oil production volume of 1.600 million per day be approved.

 

“That Petroleum Motor Spirit (PMS) subsidy of N4.00 trillion be approved.

 

“That a cut in the provision for Federally Funded upstream projects being implemented by N200 billion

from N352.80 billion be approved

 

“That an increase in the projection for Federal Government Independent Revenue by N400 billion be

approved.

 

“That an additional provision of N182.45 billion to cater for the needs of the Nigeria Police Force be approved

 

“That domestic debt service provision of N76.13 billion, and net reductions in Statutory Transfers by N66.07 billion, as follows,” the report recommended.

 

 

On the part of statutory transfers, some agencies were affected by the reduction in the amount hitherto provided for in the 2022 budget.

 

 

It said: “That Niger Delta Development Commission (NDDC) budget be reduced by N13.46 billion from N102.78 billion to N89.32 billion.”

 

“That North East Development Commission (NEDC), by N6.30 billion from N48.08 billion to

N41.78 billion.

 

 

“That Universal Basic Education (UBEC), by N23.16 billion from N112.29 billion to N89.13 billion.

 

“That the Basic Health Care Fund, by N11.58 billion from N56.14 billion to N44.56 billion; and

 

 

“That NASENI, by N11.58 billion from N56.14 billion to N44.56 billion.

 

“That the Fiscal Deficit of N7.35 trillion be approved”, the recommendations added.

 

Briefing journalists on the amendment, the House Appropriation Committee Chairman, Hon. Muktar Aliyu Betara  Borno APC), said the new request sought by the president has now increased the budget figure, introduced subsidy figure and increased the deficit.

 

 

According to him, it’s incumbent on the House to consider the reasons adduced by the president and approve same in the interest of the country based on current global realities.

 

 

He however advised that efforts must be made to reduce the amount spent on subsidy as such could have been used to improve the welfare of civil servants by way of salary increase.