President Muhammadu Buhari is expected to present the budget estimates for the 2022 fiscal year to a joint session of the National Assembly on Thursday.
This was made known by the Deputy Senate President, Ovie Omo-Agege, during the plenary on Tuesday.
Mr Omo-Agege, who presided over the Senate’s plenary, mentioned the president’s budget presentation shortly after reading a letter from him.
The president, in the letter, sought to make some changes in the recently passed Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) – parameters on which the 2022 budget will be framed.
The president said the changes, which he is asking the National Assembly to approve in the MTEF/FSP, is in line with the newly enacted Petroleum Industry Act (PIA).
The letter and other documents were referred to the Senate Joint Committee on Finance for further legislative work.
While referring to the letter, Mr Omo-Agege directed the panel to expedite action on the president’s request and report back to plenary latest on Wednesday.
“The committee should have the report latest by tomorrow…before budget presentation on Thursday,” he said.
The Speaker of the House of Representatives, Femi Gbajabiamila, also made a similar announcement in the House.
The lawmakers will, in a joint session, converge at the lower legislative chamber to receive the president.
The Senate had initially approved the total estimated expenditure of N13.98 trillion for 2022 which includes N1.44 trillion for Government-Owned Enterprises and donor-funded projects amounting to N62.24 billion.
The sums of N15.46 trillion and N16.77 trillion were also projected to be spent by the federal government in 2023 and 2024 respectively.