By Emmanuel Elebeke & Obas Esiedesa, ABUJA
THE Federal Government has prioritized spending on defence & security, infrastructure and education with the sectors getting a combined N5.15 trillion allocation in the 2022 Budget proposal.
From the proposal, defence and security got N2.41 trillion (15%); infrastructure N1.45 trillion (8.9%); education N1.29 trillion (7.9%); health N820 billion (5%) and Social Development and Poverty Eradication N863 billion (5.3%) of the entire allocation.
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed disclosed this at the public presentation and breakdown of the highlights of the 2022 appropriation bill at the ministry’s auditorium in Abuja on Friday.
Recall that President Mohammadu Buhari had on Thursday presented the 2022 aggregate expenditure projected to be N16.39 trillion which is 12.5% higher than the 2021 budget to the National Assembly.
A breakdown of N16.39 trillion estimated budget shows that recurrent spending for the projected year is N6.83 trillion, repressing 41.7% of total expenditure and 18.5% higher than the 2021 budget.
From the estimate, aggregate capital expenditure of N5.35 trillion is earmarked, representing 32.7% of total expenditure…
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