In her 2022 Budget presentation in Abuja, the Minister of Finance Budget and National Planning, Mrs Zainab Ahmed, said that the 2022 aggregate Federal Government expenditure (inclusive of Government-Owned Enterprises and project-tied loans) is projected to be N16.39 trillion, which is 12.2 per cent higher than the initial 2022 Medium Term Expenditure Framework (MTEF).
The 2022 budget presented by the Federal Government; funds were allocated funds as follows:
N76,669,965 has been allocated for residential rent in the State House.
N30,678,392 to fuel the generator at the Villa and N5,285,747 allocated for its maintenance.
N8,580,741 was allocated to buy books and N3,511,909 for magazines and periodicals.
N26,432,346 was allocated for newspapers.
N30,446,461 and N15,151,963 approved for the printing of non-security and security documents, respectively.
N245,243,963 was allocated for food items.
N11,793,200 for uniforms and clothing.
N5.83 trillion is the recurrent (non-debt) spending, is 41.7 per cent of total expenditure and 18.5 per cent higher than the 2021 Budget.
N5,35 trillion is the aggregate capital expenditure which is 32.7 per cent of total expenditure.
According to the Minister: “This provision is inclusive of the capital component of Statutory Transfers, GOEs capital and project-tied loans expenditures.”
She noted that the provision to retire maturing bonds to local contractors/suppliers of N292.7 billion is 1 per cent of total expenditure.
“This provision is in line with the Federal Government’s commitment to offset accumulated arrears of contractual obligations dating back over a decade.”