The Senate and the House of Representatives has concluded debates on the 2022 proposed budget presented by President Muhammadu Buhari at a Joint Sitting of both Chambers on Thursday, 7 October 2021.

The Senate commenced debates on the 2022 proposed budget at its plenary session of Tuesday, 12 October 2021, while the House of Representatives commenced on Wednesday, 12 October 2021. During these debates, lawmakers of both the Chambers deliberated on the need to increase the oil benchmark price from $57 per barrel as proposed by the Executive to $59 per barrel to reflect increase in oil prices globally; to increase allocations to key sectors such as health, education and agriculture; to ensure that expenditures for infrastructural development were timely released; to reduce economic deficit, inflation and debt servicing; and to ensure effective implementation and use of borrowed funds.

Other issues raised focused on effective oversight of Ministries, Departments and Agencies (MDAs) by the Standing Committees of the National Assembly, and equitable distribution of resources and projects. Lawmakers also commended the effort of the leadership of the Senate and House of Representatives to ensure that the annual budget cycle from January 1 to December 31 remained possible.

The 2022 proposed budget has now been referred to the Committee on Appropriation and other Standing Committees (now working as sub-committees of the Committee on Appropriation) of the Senate and House of Representatives for the commencement of the budget defence exercise by Ministries, Departments and Agencies (MDAs).

For this reason, both Chambers have embarked on a 2-weeks recess from plenary sessions beginning on Monday, 18 October 2021 to focus on budget defence. The proposed resumption date for plenary is Tuesday, 9 November 2021.