The Federal Government is projecting a total budget package of ₦11.907 trillion budget for 2022.
And in what appears a reversal of policy, a ₦900 billion is also being planned for fuel subsidy during the year.
At the presentation of the 2022-2024 Medium Term Expenditure Framework (MTEF), on Thursday, Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, said crude oil production for 2022 will be 1.88 million barrels per day with a price benchmark of $57 per barrel.
Some other fundamentals include exchange rate of ₦410.15; FG’s share of federation account: ₦5.513 trillion; FG’s share of VAT: ₦339.3 billion and a projected deficit of ₦4.6 trillion while projected revenue is ₦8.359 trillion.
On expenditure, the government will spend an aggregate of ₦3.616 trillion on capital including transfers.
Personnel cost for MDAs will gulp ₦3.4 trillion inclusive of salaries, overheads, pension, presidential amnesty and other service wide votes like immunisation.
Ahmed warned that “high costs including PMS under-recovery and cost of security oil pipelines are, however, weighing down on oil revenues; these issues must be addressed wholesomely to free up much needed fiscal space.”
YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE
CLAIM 1: A Twitter user claims UNICEF said any efforts to block children from accessing pornography might infringe their human rights.
VERDICT: MISLEADING!
CLAIM 2: A website report shared by the Twitter user claims UNICEF said pornography is not always harmful to children.
VERDICT: MISLEADING! UNICEF in its report explained that though there are different kinds of risks and harms that have been linked to children’s exposure to pornography but there is ‘no consensus’ on the ‘degree’ to which pornography is harmful to children.
Killer Herdsmen: Untold Story Of Ibarapa’s Worst Nightmare + VIDEOS
“Please do not talk to my father. He is yet to come to terms with the death of his son. It is a most tragic experience. How does one quantify the loss of a dear brother? My brother was killed like an animal by two herdsmen. His offence was that he asked them to drive their cows off his already cultivated farmland,” Bisi Olaosepin, whose brother was hacked to death, struggled to hold back his tears as he relayed to Sunday Tribune the horrible experience that culminated in the passage of his brother…FG projects ₦11.9trn budget for 2022
FG projects ₦11.9trn budget for 2022
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