“A budget is a moral document that reflects who and what the government cares about.” Ben Akabueze DG, BOF

The Federal Ministry of Finance held a Public Presentation and breakdown of the 2022 Appropriation Act. Minister of Finance, Budget and National Planning, Mrs (Dr.) Zainab Shamsuna Ahmed anchored this.

Some of us participated virtually, at the session that held today 05/01/2022. I would be sharing a bit of the information I got therefrom.

It was an insightful session. Mr President, Muhammadu Buhari signed the Bill on 31 December 2021 and the accented to the extension of the 2021 Finance Act, to enhance the 2022 Budget.

According to the Minister, the focus of government is to complete key projects that supports the promises of Mr. President.

The National Development Plan contains the government’s policies and strategies for 2021-2025. Its core objectives guided the preparation of Zero-based budgeting approach adopted, as well as allocation to Ministries, Departments and Agencies. 

We still have revenue challenges. Cutting expenditure is not an option, but rather to grow revenue and block leakages. Potentials exist, for example the independent revenue has surpassed the set target of one trillion Naira as at November 2021. All we need as a nation is to identify ways of harnessing the existing potentials.

Thirteen laws have been amended in the Finance Act to support the implementation of the Budget.

The detailed breakdown is available on the websites of Budget Office of the Federation and Ministry of Finance. 

Osila4Real