2021: Reps pass N13.5tn budget ~Ajasa-Info

The House of Representatives on Monday, passed N13.5trillion as the country’s budget for 2021.

The figure is up by N505bn from the original estimates of N13.08tn President Muhammadu Buhari laid before a joint session of the National Assembly on October 8.

The session presided over by the Speaker, Rep. Femi Gbajabiamila, approved $40 as the crude oil benchmark for the budget.

The House approved N4.1tn for capital expenditure, N5.6tn for recurrent expenditure and N3.3tn for debt servicing.

The sum of N496bn was also approved for statutory transfers by lawmakers on Monday.

The House achieved the objective of keeping to the January-December budget cycle by passing the budget after spending slightly over two months at the legislature.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s