Buhari Sends Revised 2022-2024 MTEF-FSP to N’Assembly for Approval

• Raises 2022 budget estimate from N13.98trn to N16.45trn

By Deji Elumoye, Udora Orizu and Juliet Akoje

President Muhammadu Buhari on Tuesday sought the approval of the National Assembly to increase the 2022 budget estimate from N13.98 trillion to N16.45 trillion in a revised 2022-2024 MTEF-FSP amendment forwarded to the legislative arm.

This is just as indications emerged in the two chambers of the Assembly that the 2022 Appropriation Bill may be presented by President Buhari to a joint session of the federal lawmakers on Thursday.

The president’s fresh request was contained in a three-page letter seeking an amendment to the 2022-2024 Medium Term Expenditure and Fiscal Strategy Paper (MTEF/FSP), which was recently approved by both chambers.

The federal lawmakers had, last week, passed the MTEF-FSP retaining all the projections submitted to it by the president in July.

Both Senate and the House of Representatives referred the request letters to both chambers’ committee on finance to expedite action on the Amendment to meet up with Thursday’s possible presentation of budget by the president.

Details later…