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Fri, Mar

President Buhari Presents Proposed 2021 Budget To National Assembly

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President Muhammadu Buhari as expected has presented the 2021 appropriation bill to a joint session of the National Assembly on Thursday. President Buhari who said the theme of the 2021 Appropriation bill is "the budget of economic recovery and resilience" noted that the budget is expected to accelerate the pace of our economy, promote economic diversification, enhance competitiveness, and ensure social inclusion. He said "the main thrust of the 2021 budget is to complete as many ongoing projects as possible" while giving priority to the ones that most affect the people. The President emphasized that “revenue generation remains our biggest challenge.” He mentioned that the budget was based on a benchmark of N379$ and crude oil production of 1.86 barrels per day (including 400,000 barrels of condensate) at $40 per barrel.

Meanwhile, the National Assembly will be funded with N128 billion in 2021.

Mr. President notes that the challenging global and economic environment had major implications on the nation. But that government remains undeterred and will not relent on its effort at poverty alleviation and job creation. One of which included the Public Works Programme.

The President adds that despite the hitches the government has delivered on key policies, programs, and projects.

President of the Senate, Ahmad Lawan, said the National Assembly is ready to pass the 2021 Appropriation Bill before the end of 2020.

Lawan made this known in his opening remarks before Buhari was called to lay the national budget before the joint session of the National Assembly.

“The National Assembly is ready to pass the 2021 budget before the end of the year, by the grace of God,” Lawan said.

 

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