Buhari signs 2022 budget: Muhammadu Buhari worry for Nigeria budget e sign New Year's eve

President Muhammadu Buhari on Friday 31st December 2021 [New Year's Eve] sign into law di 2022 Appropriation Bill and di 2021 Finance Bill.

Buhari say im sign di bills sake of say e go dey in use from New Year's Day 1st January, 2022.

President Buhari say di 2022 Budget, wey im just sign into law, go provide total money of N17.127 trillion.

Dis na wit increase of N735.85 billion over di first Executive Proposal for total money of N16.391 trillion.

Di Nigerian leader explain say N186.53 billion of di increase bin came from one additional critical expenditures wey im don permit Minister of Finance, Budget, and National Planning to forward to di National Assembly.

"I must express my reservation about many changes di National Assembly do for di Budget"

For inside statement wey Buhari totk tok pesin Garba Shuhu sign, Buhari say im also show strong reservations on di ''worrisome changes'' wey di National Assembly bin make to di 2022 Executive Budget proposal.

E say im go revert to di National Assembly wit request for amendment as soon as di Assembly resume to ensure say critical ongoing projects wey dey important to dis regime do no suffer setback sake of reduced funding.

E add say "year 2022 Budget go be di last full year budget to dey implemented by our Administration, im effective implementation dey very critical for delivering our legacy projects, promoting social inclusion and strengthening di resilience of di economy.

Buhari highlight some of di worry for Nigeria budget 2022

A. Increase in projected FGN Independent Revenue by N400 billion, di justification for which wey dey yet to be provided to di Executive.

B. Reduction in di provision for Sinking Fund to Retire Maturing Bonds by N22 billion without any explanation.

C. Reduction of di provisions for di Non-Regular Allowances of di Nigerian Police Force and di Nigerian Navy by N15 billion and N5 billion respectively.

Dis one dey particularly worrisome because personnel cost provisions dey based on agencies' nominal roll and approved salaries/allowances.

D. Furthermore, increase of N21.72 billion in di Overhead budgets of some MDAs, while di sum of N1.96 billion dey cut from di provision for some MDAs without obvious justification.

E. Increase in di provision for Capital spending (excluding Capital share in Statutory Transfer) by net amount of N575.63 billion, from N4.89 trillion to N5.47 trillion. still, provisions for some critical projects dey reduced.

Dis one include:i. Reduction of N12.6 billion in di Ministry of Transport budget for di ongoing Rail Modernisation projects,ii. Reduction of N25.8 billion from Power Sector Reform Programme under di Ministry of Finance, Budget and National Planning, andiii. Reduction of N14.5 billion from several projects of di Ministry of Agriculture, and introducing over 1,500 new projects into di budgets of dis Ministry and it agencies.

F. Inclusion of new provisions totaling N36.59 billion for National Assembly's projects in di Service Wide Vote wey negate di principles of separation of Powers and financial autonomy of di Legislative arm of government.

G. Di changes to di original Executive proposal dey in form of new insertions, outright removals, reductions and/or increases in di amounts wey dey allocated to projects:

Dis one include:i. Provisions wey dey made for as many as 10,733 projects dey reduced while 6,576 new projects dey introduced into di budget by di National Assembly.

ii. Reduction in di provisions for many strategic capital projects to introduce 'Empowerment 'projects. di cut in di provision forsome of dis projects by di National Assembly fit make di projects unimplementable or set back dia completion, especially some of dis Administration strategic capital projects.

iii. Most of di projects wey dey inserted relate to matters wey be basically di responsibilities of State and Local Governments, and no appear to don properly form one idea, designed and costed.

iv. Many more projects don dey added to di budgets of some MDAs wit no consideration for di institutional capacity to execute di additional projects consideration for di institutional capacity to execute di additional projects and/or for di incremental recurrent expenditure wey fit dey required.