By President Muhammadu Buhari has signed the 2021 Appropriation Bill of N13,588,027,886,175 into law.
The brief ceremony was done, on Thursday, inside the President’s office at the Presidential Villa, Abuja.
The event was witnessed by the Vice-President, Yemi Osinbajo, Senate President Ahmad Lawan, Speaker of the House of Representatives, Femi Gbajabiamila and Secretary to the Government of the Federation, Boss Mustapha, some cabinet ministers as well as few top government officials.
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 by President Buhari on October 8, 2020.
Also the signed budget comprises the total Capital Supplementation of N1,060,751,051,650.
Statutory Transfer, however, 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 also 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.
