It is my great pleasure to be here once again to present the 2022 Federal Budget Proposals to this distinguished Joint Session of the National Assembly.
Distinguished and Honourable leaders, and members of the National Assembly, let me start by commending you for the expeditious consideration and passage of the Supplementary Appropriation Bill 2021. This further underscores your commitment to our collective efforts to contain the COVID-19 Pandemic and address the various security challenges facing our country.
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Acting President Yemi Osinbajo, SAN, on May 18th 2017, signed three executive orders that will significantly change some of the ways government business and operations are conducted in the country forthwith.
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The Budget Office of the Federation was established to provide budget function, implement budget and fiscal policies of the Federal Government of Nigeria.
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The Budget Office of the Federation was established to provide budget function, implement budget and fiscal policies of the Federal Government of Nigeria.
The Budget Office is structured into six departments - six operational departments and seven units.
The departments are Revenue/Fiscal Policy, Expenditure Social, Expenditure Economics, Budget Monitoring and Evaluation, Human Resources Management, Finance and Accounts. The Units are ICT, ACTu, Procurement, Legal, Stock Verification, Internal Audit and Servicom.
The Minister of Finance, Budget and National Planning, Mrs. (Dr.) Zainab Shamsuna Ahmed, explained that the macroeconomic assumptions and oil revenues were updated following the Presidential Assent of the Petroleum Industry Act (PIA 2021), necessitating an upward review of the Budget size to accommodate critical spending required in 2022.
Interestingly, the 2022 FGN Budget Proposal was laid on the 7th of October, 2021. This underscores the Buhari Administration’s commitment to firmly return the country to a January – December Budget cycle.
The FGN 2022 Budget of ‘Economic Growth & Sustainability’ is expected to reposition the Nigerian economy on the path of growth and resilience.
The Budget Office of the Federation was established to provide budget function, implement budget and fiscal policies of the Federal Government of Nigeria. The Budget Office is structured into six departments - six operational departments and three units. Each department is sub-divided into divisions for functional purposes.
All budget systems have three basic tasks: Maintain aggregate fiscal discipline, Allocate resources in accordance with government priorities, Promote the efficient delivery of services.
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