Buhari signs 2021 Appropriation Bill into law

By Kassim Omomia

Apparently to maintain the January to December budget circle, President Muhammadu Buhari has signed the 2021 budget.

The 2021 Appropriation Bill which is now law, following the President’s  assent, contains an estimate of N13.58tn passed by both Chambers of the National Assembly, Monday, 21, Decembers.

Recall that President Buhari  submitted an initial 13.08 trillion on October 8 to a joint session of the Nàtional Àssembly from where it was increased by N505 bn by the lawmakers after consideration and passage.

The signing ceremony was held inside the President’s office at the Presidential Villa, Abuja.

With the new figure ,  N496.53bn is for statutory transfers, while the sum of N3.32tn is for debt service and  N5.64tn is for recurrent (non-debt) expenditure

A total sum of N4.13tn is for capital expenditure.

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