Senate Okays N13.98trn 2022 Budget Projection

The Senate also approved other parameters such as statutory transfers totaling N613.4 billion, debt service estimate of N3.12 trillion; sinking fund to the tune of N292 billion; pension, gratuities and retirees benefits of N567 billion.

The Senate also demanded a continuous review of the Fiscal Responsibility Act to ensure that all revenues are remitted to the Consolidated Revenue Fund as and when due in order to curtail frivolous deductions and diversion of funds by MDAs. In addition, the upper chamber recommended that the proposed budget of Government Owned Enterprises be reviewed upward to show the reflection of their capabilities to generate more revenue as a result of the findings of the Joint Committee.

The Senate listed such agencies to include the National Agency for Food and Drug Administration and Control and Nigerian College of Aviation Technology, Zaria.Meanwhile, president of the Senate, Ahmad Lawan, has forwarded President Muhammadu Buhari’s nominees for the board of the Economic and Financial Crimes Commission to the committee on Anti-Corruption and Financial Crimes for screening.

The president in another letter to the upper chamber also sought the confirmation of the board of the Upstream Regulatory Commission.

Nigeria Latest News, Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Senate Okays 2022-2024 MTEF/FSP, N13.98trn Budget Projection For 2022The Senate has passed the 2022-2024 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) ahead of the expected presentation of the 2022
Source: LeadershipNGA - 🏆 4. / 77 Read more »

Senate Passes 2022-2024 MTEF/FSP*Okays $57 per barrel oil benchmark *Fixes exchange rate at N410/US$1 Deji Elumoye and Juliet Akoje in Abuja The Senate on Wednesday passed the 2022-2024 Medium Term Expenditure Framework and Fisca…
Source: THISDAY LIVE - 🏆 14. / 51 Read more »

Senate approves 2022-2024 MTEF, pegs oil benchmark at $57, exchange rate at N410/$President Muhammadu Buhari had in July forwarded the 2022-2024 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) to the National Assembly for approval.
Source: PremiumTimesng - 🏆 3. / 78 Read more »

Senate okays nationwide emergency communications service - Punch NewspapersThe most widely read newspaper in Nigeria
Source: MobilePunch - 🏆 8. / 63 Read more »

Despite controversies, FG targets N2.2trn from VAT in 2022Some state governments are contentesting the right of the Federal government to be the sole collector of the Value Added Tax (VAT)
Source: PremiumTimesng - 🏆 3. / 78 Read more »

NLNG Targets Domestic LNG Supply from July 2022*Company says Nigerian market unable to take up its 450,000mt cooking gas supply Peter Uzoho The Nigeria Liquefied Natural Gas (NLNG) Limited has announced plan to enter into the Nigerian domestic … They should increase domestic LPG supply first!! They have failed abysmally in this area. How can 12.5kg cylinder refill be costing over 6,000 naira Isn't that madness in a gas producing nation
Source: THISDAY LIVE - 🏆 14. / 51 Read more »