Nigeria’s
President, Muhammadu Buhari on Thursday presented a budget of N13 trillion to
the joint arm of the National Assembly for approval for the 2021 fiscal year.
In the budget tagged: “Budget of economic recovery and resilience,” Buhari said the main thrust of the 2021 budget was to complete as many ongoing projects as possible, while giving priority to the ones that most affected the people.
He said the
2021 budget would drive the MDAs to generate revenue, no matter how little,
while urging the Legislature to pay attention to the revenue as much as they did
to the expenditure.
According to
him, the 2021 budget was the roadmap for post-coronavirus economy and was aimed
at accelerating the economic recovery process.
Buhari said
Crude oil is projected at $40bpd, exchange rate at N379 to $1, GDP at three
percent and inflation rate at 11.95 per cent.
He said he
had directed the Minister of Finance to finalise the Finance Bill and transmit
for consideration and passage.
In the
budget, the National Assembly got N128 billion, while N380.21b has been
allocated to the health ministry.
Buhari said
Multiple Rural Electrification Projects, Mambilla Hydro Power Project, Zungeru
Hydro Power Project, among others, were key power projects under the 2021
Budget.
He stated
that N420 billion had been earmarked for the Social Investment Programmes,
while N20 billion had been earmarked for the Social Housing Programmes.
Details
later…
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