BREAKING: President Buhari signs 2021 budget of N13.58 trillion

President Muhammadu Buhari has signed the 2021 Appropriation Bill of N13.588 trillion into law today, 31st December 2020.

The president’s action followed the earlier passing of the bill by the National Assembly on Dec. 21 during an emergency session convened for the purpose of passing the budget.

The budget estimate increased by N505.61 billion from the initial N13.082 billion presented by the President to the National Assembly earlier in October.

Breakdown shows that Recurrent Expenditure gets  N5.64 trillion, Capital Expenditure – N4.125 trillion while Debt Servicing and Statutory transfer  get N3.324 billion and N496.528 billion respectively.

More details shortly…