Senate Passes 2022 Supplementary Budget

The Senate on Wednesday passed the 2022 Supplementary Budget of N819.5 billion.

President Muhammadu Buhari requested the passage of a supplementary budget that would be funded by additional domestic borrowing.

The supplementary budget is intended to address food security in the aftermath of the country’s devastating floods, as well as damage to road infrastructure and the water sector.

The Senate Finance Committee recommended that the Senate approve the supplemental budget. The additional budget is for the ministries of Agriculture, Water Resources, FCT, and Works.

A breakdown of the supplementary budget indicates that FCT is to get N30 billion, the Ministry of Works and Housing N704 billion, Ministry of Agriculture is to get N69 billion and the Ministry of Water Resources N15.5 billion.

Adeniyi Bakare

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