President Muhammadu Buhari will be presenting the 2022 budget to a joint session of the National Assembly today.
The lawmakers have spent the most part of the week preparing for the event.
TOS NEWS had reported that Mr President in a letter to both the Senate and House of Representatives on Tuesday informed the lawmakers of his visit to the legislative complex to present the Appropriation Bill.
The finalisation of the 2022-2024 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) was part of the preparations.
The President had sought the approval of the lawmakers to make some amendments in the proposed Framework and one of the changes was the increase of the Federal Government’s total expenditure for 2022 from N13.98 trillion to N16.45 trillion.
According to the revised MTEF approved by the Senate on Wednesday, the estimated budget expenditure is expected to be about N16.39 trillion
The President is expected to arrive at the National Assembly and lay the budget before the lawmakers at noon.
The event is expected to take about one hour.
He will also be addressing in his speech, the 2020 budget performance, insecurity across the country, economic crisis with concerning to crude oil price and the COVID-19 pandemic.
Security has been beefed up at the National Assembly complex in readiness for the arrival of the president and his entourage.
The both chambers will carry on with their plenary sessions from 10:00 a.m. until about 11:30 a.m. and thereafter converge at the lower chamber to await the president’s arrival.
COVID-19 safety protocols will be observed.