President Muhammadu Buhari on Thursday in Abuja signed the 2021 Appropriation Bill of N13,588,027,886,175 into law.
The National Assembly had on Dec. 21 passed the bill during an emergency sitting.
The News Agency of Nigeria (NAN) reports that the signing of the budget is in line with the president’s promise to return the nation to the January to December Budget circle.
The budget estimate was increased by the sum of N505, 607,317,942 from the estimate of N13, 082, 420, 568,233 presented to the joint sitting of National Assembly on Oct. 8, 2020.
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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 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.
The president also signed the 2020 Finance Bill into law.
