President Muhammadu Buhari has presented the 2021 appropriation bill to the joint session of the National Assembly on Thursday.
The President presented a budget of N13.08trn as the estimate for the 2021 fiscal year.
In the budget tagged “Budget of Economic Recovery and Resilience”, N5.75trn was earmarked for recurrent expenditure, N3.33trn for capital projects while N3.12trn is for debt servicing.
The president said the National Assembly to get N128b for the year, while a sum of N75bn is set aside for youth empowerment in 2021.
Cruel oil price is pegged at $40 per barrel while exchange rate is expected to be N379 to $1.
Senate President, Ahmad Lawan said the NASS will pass the budget before the end of 2020.
Lawan made this known in his opening remarks before Buhari was called to lay the national budget before the joint session of the National Assembly.
The Senate President recalled how the parliament promised to pass the 2020 budget before the year ended, which was achieved.
“The National Assembly is ready to pass the 2021 budget before the end of the year, by the grace of God,” Lawan said.
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