Buhari Approves N13.58trn as 2021 Appropriation Budget

President Muhammad Buhari has signed the 2021 appropriation budget of N13,588,027,886,175 into law.

This followed the passing of the bill by the National Assembly on 21 December, 2020.

The budget which was initially estimated to N13,082,420,568,233 by President Buhari at the joint sitting of the National Assembly on October 8, 2020 was increased by the members of the National Assembly by N505, 607,317,942 to N13,588,027,886,175.

Key notes in the Budget

The Gross Domestic Product (GDP) rate is projected to stand at 3 per cent.
N5,641,970,060,680 has been estimated to cover Recurrent Expenditure,
N4,125,149,354,222 estimated for Capital Expenditure,
N3,324,380,000 trillion has been budgeted for Debt Servicing,
N1,060,751,051,650 has been budgeted for Capital Supplementation; while
Statutory Transfers stands at N496,528,471,273.

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