Buhari Signs 2021 Budget

Muhammadu Buhari

By Omololu Ogunmade

President Muhammadu Buhari Thursday in the State House signed the 2021 Appropriation Bill into law.

The bill, which has now become an Act of the National Assembly, was passed on December 21, 2020, with a total budget of N13, 588, 027,886, 175 trillion.

The budget comprises a capital expenditure of N4,125,149,354,222 trillion, recurrent expenditure of N5,641,970,060,680 trillion,
statutory transfer of N496,528,471,273 billion, N3.324 trillion for debt servicing,
supplementary capital allocation of N1,060,751,051,650 trillion,
and Gross Domestic Product (GDP) growth rate of 3.00 percent.

The budget was N505.607 billion higher than N13, 082, 420, 568,233 presented to the National Assembly by President Buhari on October 8, 2020.

Present at signing ceremony were Vice-President Yemi Osinbajo, Senate President Ahmad Lawan, Speaker, House of Representatives, Femi Gbajabiamila, Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha and Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, among others.

Details later…