National Assembly passes N13.5trn 2021 budget

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Nigerian senate

The Senate at a special plenary has passed the 2021 budget totalling N13.5trn.

The fiscal document is predicated on oil benchmark $40 per barrel, N3.324trn for debt servicing, N4.1trn for capital expenditure, N5.6 trillion for recurrent, N496bn for statutory transfer.

It has an increment of N505bn.

The passage followed the adoption of a report by the House Committee on Appropriation, laid by its Chairman, Rep Aliyu Betara (APC-Borno) at the Committee of Supply.

He said the Bill is to authorise the issue from the Consolidated Revenue Fund of the Federation the sum of N13.5trn of which N496.5 billion is for statutory transfers.