Buhari to present 2021 budget next week

Nigeria’s Senate President Ahmed Lawan on Tuesday said the National Assembly would receive the 2021 Appropriation Bill from President Muhammadu Buhari next week.

“I am aware that the executive will be presenting the 2021 budget estimates by next week,” Lawan said at the resumption of plenary Tuesday morning.

Lawan said the senate will provide a one-month window for budget defense by ministries, departments, and agencies.

“Like last year, the month of October 2020 will be dedicated to this exercise. Subsequent months of November and December will be dedicated to the internal processing of the Budget by NASS.

“The various MDAs are therefore advised to ensure that they avail themselves the opportunity of the Budget defense window to appear with all the relevant and necessary information to defend their Budget Estimates,” he said.

The federal government had proposed N12.66 trillion as aggregate expenditure for the 2021 fiscal year, according to the 2021- 2023 MTEF/FSP, forwarded to the Senate by the Buhari in July.

The proposal targets N481.41 billion as statutory transfers, N5.75 trillion as recurrent expenditure, N3.33 trillion for capital expenditure, and N3.12 trillion for debt servicing.

The proposed budget will be on a deficit of N5.16 trillion and will be partly financed by a total loan package of N4.28 trillion.