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Rep passes N13.6tn budget for 2021

Ehime Alex by Ehime Alex
December 22, 2020
in BUSINESS & ECONOMY, Front Page
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Rep passes N13.6tn budget for 2021
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The House of Representatives, on Monday, passed the 2021 appropriation bill of N13.6tn.

The passage had followed the adoption of a report by the House Committee on Appropriation, laid by its Chairman, Aliyu Betara.

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According to Betara, the bill will authorise the issue from the Consolidated Revenue Fund of the Federation N13,588,027,886,175 of which N496.5bn is for statutory transfers.

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He said N3.3bn was for debt servicing, while N5.6tn would go to recurrent non-debt expenditure.

According to Betara, N4.1tn is for contribution to the Development Fund for capital expenditure for 2021.

The budget was raised by N505bn from N13.08tn presented by President Muhammadu Buhari to the joint session of the National Assembly.

Commenting on the bill, the Speaker of the House of Representatives, Femi Gbajabiamila, said the 9th National Assembly passed the budget in record time to keep to the promise made during its inauguration.

“We will maintain this tempo so that our successors can continue from where we stopped,” Gbajabiamila added.

Tags: 2021 budgetAppropriation billHouse of RepresentativesNational Assembly

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Ehime Alex

Ehime Alex

Ehime Alex reports the Capital Market, Energy, and ICT. He is a skilled webmaster and digital media enthusiast.

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