Breaking: Senate approves N17.126 trillion budget

The upper legislative chamber, Senate has passed a 2022 budget of N17.126 trillion against N16.391 trillion naira as presented by the president.

It was learnt that N3.8 trillion is earmarked for debt service, N6.9 trillion recurrent non-debt expenditure while N5.4 trillion is for capital expenditure.

The upper house also increased the benchmark price of crude from 57 to 62 dollars per barrel, from which a proposed increase in revenue is expected.

More to come