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President Buhari signs 2021 budget

President Muhammadu Buhari on Thursday signed the 2021 budget into law at the Council Chambers of the State House in Abuja.

This is coming ten days after both chambers of the National Assembly approved N13.6 trillion (13,588,027,886,107) against the N13.08 trillion proposed by the president in October.

The lawmakers increased the budget by the sum of N505, 607,317,942.

The signed budget comprises the total Capital Supplementation of N1,060,751,051,650.

Statutory Transfer stands at N496,528,471,273; recurrent Expenditure of N5,641,970,060,680 and Gross Domestic Product (GDP) growth rate of 3.00 Per cent.

It also provides N3,324,380,000 trillion for debt servicing while N5,641,970,060,680 is for Recurrent Expenditure; and N4,125,149,354,222 for Capital Expenditure.

Also, the president signed the 2020 Finance Bill into law.

Among those present at the signing of the budget include the Vice-President, Yemi Osinbajo, Senate President Ahmad Lawan and the Speaker of the House of Representatives, Femi Gbajabiamila.

Others at the Council Chamber were the Secretary to the Government of the Federation, Boss Mustapha and some cabinet ministers.

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