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2022 Budget: President Buhari Set To Present Appropriation Bill Before NASS

Electronic Transmission of Results

President Muhammadu Buhari is set to appear before a joint session of the National Assembly (NASS) on Thursday, October 7, 2021, where he will present the 2022 budget. This follows a letter presented to the Senate by the president which was read by the Deputy Senate President, Ovie Omo-Agege.

President Buhari had earlier submitted the revised 2022-2024 Medium Term Fiscal Framework to the Committee on Finance for legislative input. In his letter, PMB explained why the revision was necessary in order to include all the new fiscal terms in the Petroleum Industry Act, 2021, as well as other critical expenditures in the 2022 budget.

According to him;

“The PIA established a progressive fiscal framework aimed at encouraging investment in the Nigerian Petroleum Industry. This significantly alters the Oil and Gas fiscal terms and has necessitated changes in the 2022-2024 Medium Term Fiscal Framework.

“The fiscal effects of PIA implementation are assumed to kick in by mid-year 2022. The revised 2022-2024 Fiscal Framework is premised on hybrid of January-June (based on current fiscal regime) and July-December (based on PIA fiscal regime), while 2023 and 2024 are now fully based on the PIA.”

The areas where these changes reflect include a reduction of Gross Revenue projection by N341.57 billion (from N8.870 trillion to N8.528 trillion); decreased deductions for federally funded upstream projects costs and 13 percent derivation by N335.3 billion and N810.25 million respectively; and Net Oil and Gas revenue projection declined by N5.42 billion from N6.540 trillion to N6.535 trillion.

To cover the deficit, revenues are expected to be generated to do so. N837.76 billion will be generated from an increase in revenue of Government-Owned Enterprises; N697.6 billion from MDAs Internally Generated Revenue; the introduction of Education Tax of N306 billion and Dividend of N8.3 billion from the Bank of Industry as revenue lines; and FGN share of oil price royalty of N96.9 billion which is expected to be transferred to the Nigerian Sovereignty Investment Authority based on the provisions of the PIA.

The Deputy Senate President, after reading the President’s letter referred same to the Committee on Finance.

The Committee which is Chaired by Senator Solomon Olamilekan Adeola was mandated to report back tomorrow, Wednesday, October 6, 2021.

“You will have to report back to us latest tomorrow (Wednesday), to enable us to use it as a predicate for the budget presentation on Thursday.”

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Fubara meets Tinubu in Aso Rock amid defection rumours

Rivers State Governor, Siminalayi Fubara, held a closed-door meeting with President Bola Tinubu at the State House, Abuja, on Monday. Our correspondent sighted the governor walking towards the President’s office at 5:01 p.m., dressed in a deep-blue long-sleeve shirt, black trousers, and a black flat cap.

Minutes earlier, Ebonyi State Governor, Francis Nwifuru, had been ushered in for a separate engagement. Details of both meetings remain undisclosed. Fubara’s visit comes amid speculation that he may defect from the Peoples Democratic Party to the All Progressives Congress following political turbulence in Rivers State.

On December 5, 17 lawmakers loyal to former governor Nyesom Wike, led by the Speaker, Martin Amaewhule, defected from the PDP to the APC, shifting the legislature’s balance of power. The only three lawmakers considered loyal to Fubara have not resumed sitting since the six-month emergency rule was lifted on September 18, deepening uncertainty about his political future.

Months earlier, Fubara had been reinstated as governor following the end of the emergency rule imposed by President Tinubu on March 18. Nwifuru, an APC governor and former Speaker of the Ebonyi House of Assembly, has also engaged the Presidency on infrastructure and security coordination in the South-East.

The Secretary to the State Government, Dr Benibo Anabraba, disclosed this at a news briefing in Port Harcourt on Monday. During a site inspection about two weeks ago, Fubara had said the Assembly complex along Moscow Road would be completed before the end of the year.

He said he intended to present the 2026 budget in the new complex, noting, “I strongly believe that before the end of December, this particular place should be set. Maybe when they come in, the other side of the complex will be handled by the Speaker himself. But this major work on the site, I will make sure it is ready for them, so that we will present our budget for 2026 in the main hallowed chambers, in the dignified manner that befits us.”

Anabraba reiterated that Fubara is committed to delivering democratic dividends to all citizens, assuring residents of safety and adherence to peace.

“From December 10 to 23, the projects to be commissioned and flagged off will cover Ahoada East and West, Ogba/E

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ADC to Obi: Make up your mind now

The African Democratic Congress has asked the 2023 presidential candidate of the Labour Party, Peter Obi, to make up his mind about joining the party.

The party said that although Obi was an important political leader needed in its coalition, it would not compel the former Anambra State governor to join.

Obi had, during an interview on YouTube with ‘Advocacy for Good Governance’ on Wednesday, stated that the ADC-led coalition was unstable due to some unresolved issues, including the zoning arrangement.

The presidential hopeful said he believed in the coalition despite being a member of the Labour Party, urging the ADC to settle some “fundamentals” necessary for a credible alliance ahead of the 2027 general elections.

Despite his reservations, Obi expressed confidence in the quality of leaders driving the group, including former Senate President David Mark and ex-Vice President Atiku Abubakar.

When asked if he would stand by the coalition even if he did not emerge as its presidential candidate, Obi said he was not driven by personal ambition but by a desire for national progress.

But the Peter Obi Media Office said Obi never granted the interview. His media aide, Ibrahim Umar, in a statement on Friday, said Obi had confidence in the ADC. However, the spokesperson for the ADC, Bolaji Abdullahi, while speaking, said the party was not ready to toe Obi’s line of zoning.

He said the priority of the party was to convince Nigerians that it was a credible alternative.

“We’re not talking about zoning or no zoning now. Nigerians are still waiting for us to tell them what we will do differently. So, zoning or no zoning is not on the table now. If that is the condition for Obi to join us, maybe he should wait till that time.

“I understand what Peter has been saying. But I will encourage him to make up his mind if he wants to be part of the coalition or not. Because the most important thing for us is how we can convince Nigerians that we represent the credible alternative, and this is without prejudice to where the candidate will come from,” he said.

The ADC spokesperson said the party wanted Obi and encouraged him to be part of the coalition.

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FG probes report of military aircraft grounded in Burkina Faso

The Federal Government has said it is looking into the matter following reports from Burkina Faso that a Nigerian Air Force C-130 aircraft was forced to land in Bobo Dioulasso after allegedly violating the country’s airspace.

Speaking to journalists on Tuesday in Abuja, the spokesperson for the Ministry of Foreign Affairs, Kimiebi Ebienfa, said officials were still gathering details.

“We are monitoring the situation and will issue a statement when we receive adequate information,” he told reporters.

It was earlier reported that the Government of Burkina Faso said a Nigerian Air Force aircraft carrying eleven soldiers was forced to land in the country on Monday after reportedly violating its airspace.

The incident occurred on Monday and was first reported by the Agence d’Information du Burkina, which published a statement from the Confederation of Sahel States.

According to the statement, the aircraft, carrying two crew members and nine soldiers, made an emergency landing while operating in Burkinabe airspace.

The statement added that an investigation by Burkinabe authorities “highlighted the absence of authorisation to fly over the territory of Burkina Faso for this military device.”

“The Confederation of Sahel States informs the public that a C-130 aircraft belonging to the Air Force of the Federal Republic of Nigeria was forced to land today, December 8, 2025, in Bobo Dioulasso, Burkina Faso, following an in-flight emergency while operating in Burkinabe airspace.

“The military aircraft had two (2) crew members and nine (9) passengers on board, all military personnel,” the Sahel regional body said.

Authorities in Burkina Faso later stated that an investigation “highlighted the absence of authorisation to fly over the territory of Burkina Faso for this military device.”

The Confederation condemned the development as a breach of sovereignty, saying it “condemns with the utmost firmness this violation of its airspace and the sovereignty of its member States.”

It further warned that its air and anti-aircraft units had been placed on maximum alert and “were authorised to neutralise any aircraft that would violate the Confederate space.”

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