House of Reps raise estimates to N17tn, passes 2022 budget

Nigeria’s House of Representatives has passed the 2022 Appropriation Bill and the 2021 Finance Bill, TopNaija reports.

The House also raised the total estimates of the Federal Government’s budget from the proposed N16.39 trillion to over N17 trillion.

Formerly, the 2022 budget proposal of N16. 39 trillion represents a 12.9 per cent increase over the N14. 57 trillion appropriated for 2021. However, the capital budget falls by 9.04 per cent.

The passage followed the consideration of the reports by House Committee on Appropriation and Committee on Finance on the bills, respectively.

The House of Representatives is the lower chamber of Nigeria’s bicameral National Assembly. The Senate is the upper chamber. The House of Representatives has 360 members who are elected in single-member constituencies using the plurality system. Members serve four-year terms