Nigeria’s President Muhammadu Buhari on Thursday signed the country’s N13.58trn 2021 budget into law.
The budget, which was passed by the National Assembly on December 21, 2020, comprises total Capital Supplementation of N1.06trn and total Capital Expenditure of N4.12trn. Statutory Transfer stands at N496bn; recurrent expenditure of N5.64trn,and Gross Domestic Product growth rate of 3.00 percent.
The National Assembly also provided the sum of N.32trn for debt servicing.
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The lawmakers increased the budget estimate by the sum of N505bn from the estimate of N13.08trn presented to the joint sitting of National Assembly by President Buhari on October 8, 2020.
The signing ceremony was witnessed by Vice President Yemi Osinbajo, Senate President Ahmad Lawan, House Speaker Femi Gbajabiamila; Secretary to Government of the Federation Boss Mustapha, Minister of Finance Zainab Ahmed, among others.
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