Buhari asks to borrow N819.5 billion to finance 2022

President Muhammadu Buhari has asked the House of Representatives to approve N819.5 billion supplementary budget for 2022.Information Guide Nigeria

This was revealed in a letter read by Speaker Femi Gbajabiamila on Wednesday.

President Buhari said the budget will be financed with new domestic borrowing.

He noted that if the supplementary budget is approved and will take a total deficit in 2022 to N8.17 trillion.

Buhari said, “The president writes that 2022 has witnessed the worst flood incident in recent history which has caused massive destruction of farmlands at a point already close to harvest season, this may compound the situation of food security and nutrition in this country”.NYSC portal

Other Top Stories:

“The flood also devastated the road infrastructure across the 36 states and the FCT. It has affected several sections of major roads and bridges nationwide that are critical to the movement of goods and services. The water sector was equally affected by the flood, and there is a need to complete some ongoing projects that have achieved 85% completion across the country.”JAMB portal

According to DAILY POST, the letter was referred to the House Committee on Appropriation for further legislative action.

In another letter, President Buhari also informed the lawmakers that the government will take another N1 trillion loan from the CBN through ways and means.

He said the additional N1 trillion will take the total obligation to CBN to N23 trillion which the government seeks to convert to bonds.JAMB Result

This letter has been referred to the Committees on Finance, Banking and Currency, Loans, Aid and Grant.



👍Advertise your business on Naijatechnews.com!

From just N4,999 per month, you can advertise your products and services to over 1,500,000 users on our website. Click here to read more.


Information is Power!

Don’t miss any valuable information or opportunity that can change your life, business, and family positively and permanently.


Click Here to Join our Google Group 

For Latest updates on News, Jobs & Business Ideas, and Opportunities.

Copyright Warning!

Contents on this website may not be republished, reproduced, or redistributed either in whole or in part without due permission or acknowledgment.
Proper acknowledgment includes, but not limited to (a) LINK BACK TO THE ARTICLE in the case of re-publication on online media, (b) Proper referencing in the case of usage in research, magazine, brochure, or academic purposes,.
All contents are protected by the Digital Millennium Copyright Act 1996 (DMCA).


The images, except where otherwise indicated, are taken directly from the web, if some images were inserted by mistake violating the copyright, please contact the administrator for immediate removal.

We publish all content with good intentions. If you own this content & believe your copyright was violated or infringed, please contact us  for immediate removal.

🤑 Start Making Money from home today!

👉 Get the correct FREE FOOTBALL PREDICTION TIPS and Guides today. Click here