NASS transmits 2021 budget to Buhari for assent

The National Assembly has transmitted the N13.082 trillion 2021 appropriation bill to President Muhammadu Buhari for assent.

The NASS had last week passed the 2021 budget and it also raised the proposed estimate of N13.082 trillion to N13.588 trillion.

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The Senior Special Adviser to the President on National Assembly Matters, Senator Babajide Omoworare confirmed the transmission of the budget to President Buhari.

“This is to confirm that the Appropriation Bill has been transmitted by the National Assembly to Mr. President in conformity with the provision of Section 59 of the Constitution.

He also confirmed that the appropriation bill “is presently being looked at by Mr President and consequential executive action will be taken in due course.”

President Muhammadu Buhari had on October 8th submitted the N13.082 trillion budget christened, “budget of economic recovery and resilience” to a joint session of the National Assembly on October 8th, 2020.

The budget comes with a projected revenue of N7.89 trillion, expenditure of N13.08 trillion and a deficit of N5.02 trillion, which is 64% of projected revenue.

Other highlights of the budget include the provision of N3.12 trillion for servicing the country’s public debt, which stood at N31.01 trillion as at October 2020.