Buhari plans to request for amendment of 2022 Budget when NASS members resume

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3 years ago

President Buhari has declared that it was surprising that despite the National Assembly increasing projected revenue by N609.27 billion, the additional executive request of N186.53 billion for critical expenditure items could not be accommodated without increasing the deficit, while the sum of N550.59 billion from the projected incremental revenues was allocated at the discretion of National Assembly.

According to the president: “I signed the 2022 Appropriation Bill into law to enable its implementation to commence on 1st January 2022.

“However, I will revert to the National Assembly with a request for amendment and/or virement as soon as the Assembly resumes to ensure that critical ongoing projects that are cardinal to this administration, and those nearing completion, do not suffer a setback due to reduced funding.”

In putting the lawmakers on notice to revert to them, he said it would be to ensure that critical ongoing projects cardinal to the administration do not suffer a setback due to reduced funding.

The president announced that as the 2023 budget is going to be a transition budget, work will start in earnest to ensure early submission of the 2023-2025 Medium-Term Expenditure Framework and Fiscal Strategy Paper as well as the 2023 Appropriation Bill to the National Assembly.

He, therefore, directed Heads of Ministries, Departments and Agencies (MDAs) to cooperate with the Ministry of Finance, Budget and National Planning, more specifically with the Budget Office of the Federation, to realise this very important objective.

On COVID-19 and budget implementation, the president said despite the lingering adverse effects of the pandemic, he was happy with the success recorded in the implementation of the 2021 Budget.

“The sum of N3.94 trillion that was provided for the implementation of capital projects by MDAs during the fiscal year has been released fully.

“To enable MDAs to complete the implementation of their 2021 capital projects and optimise the impact of the capital budget on the economy, they have been allowed to continue to expend the funds released for their 2021 capital budgets till 31st March, 2022.”

Speaking on timely implementation of the 2022 budget, Buhari added: “As the 2022 Budget will be the last full year budget to be implemented by our administration, its effective implementation is very critical for delivering our legacy projects, promoting social inclusion and strengthening the resilience of the economy.

“The Ministry of Finance, Budget and National Planning will implement all measures required to ensure timely and targeted release of capital votes.

“All MDAs are to effect early commencement of project implementation, while ensuring productive use of funds provided for achievement of the objectives set for their sectors.

“Considering the incidence of new COVID-19 variants globally, we will ensure timely implementation of measures provided for in the 2022 Budget to contain the spread of the virus and protect our people.

“We continue to count on the collaboration of the state governments in our effort to protect the lives and livelihood of our people.”

To achieve the laudable objectives of the 2022 Budget, President Buhari pledged that the Federal Government would further intensify revenue mobilisation efforts.

He expressed optimism in the ability of the government to finance the budget considering the positive global oil market outlook and the continuing improvement in non-oil revenues.

“To achieve our revenue targets, revenue generating agencies, and indeed all MDAs must ensure prompt and full remittance of collected revenues.

“Relevant agencies must also ensure the realisation of our crude oil production and export targets.

“I also appeal to our fellow citizens and the business community at large to fulfil their tax obligations promptly.”

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