President Muhammadu Buhari on Friday signed the 2022 Appropriation Bill titled “Budget of Economic Growth and Sustainability” into law at the Presidential Villa, Abuja.
The budget, valued at N17.126 trillion, was recently transmitted to the President by the National Assembly, on Friday, December 24.
Mr Buhari also signed the Finance Bill 2021, which he said was for the execution of the 2022 Budget.
The breakdown of the budget includes N869 billion for statutory allocation, N3.8 trillion for debt servicing, N6.9 trillion and N5.4 trillion for recurrent and capital expenditure respectively.
The oil benchmark was raised from the proposed $57 per barrel to $62 with the projected oil production put at 1.88million barrels per day.