The Appropriation (Repeal and Enactment) Act, 2022

Arrangement of Sections

1.

2. Release of Funds from the Consolidated Revenue Fund.

3. Virement.

4. Corrigendum.

5. Excess Revenue.

6. Authorisation.

7. Information of funds releases.

8. Due process certification Act No. 14, 2007.

9.

10.

11. Detailed estimate.

12. Effective date Cap. C23, LFN 2004.

13. Repeal and savings provisions.

14. Citation.

(2022)

1.

1 The Accountant-General of the Federation shall, when authorised to do so by Warrants signed by the Minister charged with responsibility for finance, pay out of the Consolidated Revenue Fund of the Federation during the year ending on the 31st day of December 2022, the sums specified by the warrants, not exceeding in the aggregate N17,319,704,091,019 (seventeen trillion, three hundred and nineteen billion, seven hundred and four million, ninety-one thousand and nineteen Naira) only. 2 The amount mentioned in subsection (1) of this section shall be appropriated to heads of expenditure as set out in the Schedule to this Act. 3 No part of the amount aforesaid shall be released from the Consolidated Revenue Fund of the Federation after the end of the year mentioned in subsection (1) of this section.

Issue and appropriation of N17,319,704,09 1,019 from the Consolidated Revenue Fund for 2022.

Release of Funds from the Consolidated Revenue Fund.

2.

All amounts appropriated under this Act shall be released from the Consolidated Revenue Fund of the Federation only for the purpose specified in the Schedule to this Act.

Virement.

3.

In the event that the implementation of any of the projects intended to be undertaken under this Act cannot be completed without virement, such virement shall only be effected with the prior approval of the National Assembly.

Corrigendum.

4.

Any error in the Schedule to this Act that may hinder the implementation of projects and programs in Ministries, Departments and Agencies may be corrected through a corrigendum issued by the National Assembly: provided that the total sum for the project or program is not affected.

Excess Revenue.

5.

1 The Accountant-General of the Federation shall immediately upon the coming into effect of this Act maintain a separate record for the documentation of Revenue accruing to the Consolidated Revenue Fund of the Federation in excess of oil price benchmark adopted in this Budget. 2 Such revenues as specified in subsection (1) refers to Revenues accruing from sales of government crude oil in excess of the approved benchmark price per barrel, the Petroleum Profit Tax, and Royalty on Oil and Gas.