The National Assembly on Monday passed the 2021 budget raising the proposed estimate of N13.082 trillion to N13.588 trillion.
Which is an increase of N505 billion from the proposed figures presented by the executive.
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President Muhammadu Buhari had submitted a N13.082 trillion budget to a joint session of the National Assembly on October 8th, 2020.
Key assumptions in the 2021 budget include:
Statutory transfer- N496.528 billion
Recurrent expenditure- N5.641 trillion
Capital expenditure- N4.125 trillion
Debt servicing- N3.324 trillion
GDP growth rate – 3.00%