{"id":92574,"date":"2021-10-12T20:35:17","date_gmt":"2021-10-12T19:35:17","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=92574"},"modified":"2021-10-12T20:35:17","modified_gmt":"2021-10-12T19:35:17","slug":"senate-begins-debate-on-2022-appropriation-bill","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2021\/10\/12\/senate-begins-debate-on-2022-appropriation-bill\/","title":{"rendered":"Senate begins debate on 2022 Appropriation Bill"},"content":{"rendered":"<p>The Senate on Tuesday began debate on the 2022 Appropriation Bill.<\/p>\n<p>This followed the presentation of the lead debate on the general principles of the bill by the Senate Leader, Yahaya Abdullahi, during plenary.<\/p>\n<p>The bill is titled \u201cA Bill for an Act to authorise the issuance from the Consolidated Revenue Fund of the Federation, the total sum of N16.39 trillion of which N768.28 billion is for statutory transfers.\u201d<\/p>\n<p>Presenting the <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/10\/12\/anambra-assembly-passes-anti-open-grazing-bill\/\" target=\"_blank\" rel=\"noopener\">bill<\/a> for second reading, Mr Abdullahi recalled that President Muhammadu Buhari had last Thursday presented the 2022 Budget of N16.39 trillion to the National Assembly for consideration.<\/p>\n<p>The budget is entitled \u201cBudget of Economic Growth and Sustainability.\u201d<\/p>\n<p>\u201cIn accordance with our Standing Order 92(1b), the 2022 Appropriation Bill is billed to have been read for the first time by virtue of its presentation to a joint session of the National Assembly.<\/p>\n<p>\u201cA total expenditure of N16.39 trillion is proposed for the Federal Government in 2022.<\/p>\n<p>\u201cThe proposed expenditure comprises: Statutory Transfers of N768.28 billion; Non-debt Recurrent Costs of N6.83 trillion; Personnel Costs of N4.11 trillion.<\/p>\n<p>\u201cPensions, Gratuities and Retirees\u2019 Benefits N577.0 billion Naira; Overheads of N792.39 billion, Capital Expenditure of N5.35 trillion including the capital component of Statutory Transfers; Debt Service of N3.61 trillion and Sinking Fund of N292.71 billion to retire certain maturing bonds, \u201d he said.<\/p>\n<p>Mr Abdullahi added: \u201dWe plan to finance the deficit mainly by new borrowings totalling N5.01 trillion, N90.73 billion from Privatisation Proceeds and N1.16 trillion drawdowns on loans secured for specific development projects.<\/p>\n<p>\u201cSome have expressed concern over our resort to borrowing to finance our fiscal gaps. They are right to be concerned.<\/p>\n<p>\u201cHowever, we believe that the debt level of the federal government is still within sustainable limits. Borrowings are to specific strategic projects and can be verified publicly.\u201d<\/p>\n<p>Contributing, Senate Minority Leader, Eyinnaya Abaribe, while speaking on cutting down the expenditure, said \u201cI do not think that the problem is the expenditure that goes to supporting our people.<\/p>\n<p>\u201cI think the expenditure is that on government itself, 40 per cent of what we spent today on overhead can be cut.\u201d<\/p>\n<p>He said the government should be creative in making sure that it cuts down the expenditure.<\/p>\n<p>Adamu Aliero (APC-Kebbi) said there was a need to explore other avenues of funding critical projects.<\/p>\n<p>\u201cThese critical projects should be taken by the private sector as long as there is an enabling environment; as long as there are ways and means of recovering whatever money they invest.<\/p>\n<p>\u201cPublic-Private Partnership is a way of harnessing critical infrastructure without relying on the budget or on borrowing or on deficit,\u201d Mr Aliero said.<\/p>\n<p>Senate President, Ahmad Lawan, urged other senators who would like to make contributions on the next legislative day to get prepared.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Senate on Tuesday began debate on the 2022 Appropriation Bill. This followed the presentation of the lead debate on the general principles of the bill by the Senate Leader, Yahaya Abdullahi, during plenary. The bill is titled \u201cA Bill for an Act to authorise the issuance from the Consolidated Revenue Fund of the Federation, [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":59149,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[19724,16,208,588],"class_list":["post-92574","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-appropriation-bill","tag-national-assembly","tag-president-muhammadu-buhari","tag-senate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Senate begins debate on 2022 Appropriation Bill<\/title>\n<meta name=\"description\" content=\"The Senate on Tuesday began debate on the 2022 Appropriation Bill\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2021\/10\/12\/senate-begins-debate-on-2022-appropriation-bill\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Senate begins debate on 2022 Appropriation Bill\" \/>\n<meta property=\"og:description\" content=\"The Senate on Tuesday began debate on the 2022 Appropriation Bill. This followed the presentation of the lead debate on the general principles of the bill\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.withinnigeria.com\/news\/2021\/10\/12\/senate-begins-debate-on-2022-appropriation-bill\/\" \/>\n<meta property=\"og:site_name\" content=\"NEWS PICKS \u2014 WITHIN NIGERIA\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/facebook.com\/withinnigeria\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-12T19:35:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.withinnigeria.com\/news\/wp-content\/uploads\/sites\/5\/2021\/07\/ify_davies\/2021\/07\/16\/Floor-of-the-senate.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"730\" \/>\n\t<meta property=\"og:image:height\" content=\"420\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adejayan Gbenga Gsong\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta 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