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NASS transmits 2021 budget for President Buhari’s assent

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

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

The Senior Special Adviser to the President on National Assembly Matters, Senator Babajide Omoworare confirmed the development.

“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 bill “is presently being looked at by Mr President and consequential executive action will be taken in due course.”

President Muhammadu Buhari, on October 8, submitted the budget christened, “budget of economic recovery and resilience” to a joint session of the National Assemby.

The budget comes with a projected revenue of N7.89 trillion, the 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 debt servicing, which stood at N31.01 trillion as at October 2020.

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