Senate Passes N13.5 Trillion 2021 Budget

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The Senate, on Monday, passed the sum of N13.5 trillion budget for 2021 fiscal year.

This is an increase of 5.05 billion from the N13.08 trillion presented by President Muhammadu Buhari in October.

The Red Chamber also approved the sum of N496.5 billion as Statutory Transfers; N5.6 trillion as recurrent expenditure; N4.1 trillion as capital expenditure N3.3 trillion as debt servicing and N4.1 trillion as contribution to the Development Fund for capital expenditure.

The passage of the budget was sequel to the consideration of a report by the Senate Committee on Appropriations, chaired by Senator Barau Jibrin (APC, Kano).

Details later…

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