President Muhammad Buhari
President Muhammadu Buhari on New Year’s eve, Thursday, December 31, signed the 2021 appropriation bill of =N=13, 588,027,886,175 into law. The president signed the bill which was passed by the National Assembly last week monday, December 21, 2020 at an emergency session for the purpose before embarking on its holiday, to sustain the January-December fiscal cycle.
Reps rushed through passage of 2021 budget, MTEF before embarking on holiday
The budget estimate, it was gatheted, was increased by the sum of N505, 607,317,942 from the estimate of N13, 082, 420, 568,233 presented to the joint sitting of the National Assembly by President Buhari on October 8, 2020.
The signed budget, it was further learnt, comprises total Capital Supplementation of N1,060,751,051,650 with Statutary Transfer standing at N496,528,471,273; recurrent Expenditure of N5,641,970,060,680 and Gross Domestic Product (GDP) growth rate of 3.00 Per cent.
It also provides N3,324,380,000 trillion for debt servicing while N5,641,970,060,680 is for Recurrent Expenditure; and N4,125,149,354,222 for Capital Expenditure.
President Buhari also signed the 2020 Finance Bill into law.
In attendance at the Council Chamber to witness the signing of the budget were, the Vice-President, Yemi Osinbajo, Senate President, Ahmad Lawan, and the Speaker of the House of Representatives, Femi Gbajabiamila.
Present also, were the Secretary to the Government of the Federation, Boss Mustapha, some cabinet ministers as well as few top government officials.
