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National Assembly passes N13.5trn 2021 budget

Muhammad A. Aliyu
By Muhammad A. Aliyu
Published: December 21, 2020
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The National Assembly has passed the 2021 budget raising the proposed estimate of N13.082 trillion to N13.588 trillion. 

This is an increase of N505 billion from the proposed figures presented by the executive.

This budget was passed on Monday by both the Senate and the House of Representatives during their special plenary held mainly to pass the budget ahead of the Christmas and New Year break.

The lawmakers are sticking to the $40 per barrel benchmark price of crude but asked President Buhari to send a supplementary budget because of the increase in oil price in the international market which is hovering between 47-50 dollars per barrel.

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This supplementary budget is expected to fund critical areas in the country.

Key assumptions in the 2021 budget include:

Statutory transfer- N496.528 billion

Recurrent expenditure- N5.641 trillion

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Capital expenditure- N4.125 trillion

Debt servicing- N3.324 trillion

GDP growth rate – 3.00%

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TAGGED:2021 budgetNational Assembly
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ByMuhammad A. Aliyu
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Muhammad Ameer Aliyu, is a prolific journalist who joined Okay Nigeria in 2015 with the aim staying committed to bringing more positive growth to the digital news platform. He is the Senior Editor at Okay Nigeria.
Previous Article Femi Adesina Security has improved, bombings no longer occur daily since Buhari became president – Femi Adesina
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