President Muhammadu Buhari at the presentation of the 2021 Appropriation Bill to a joint session of the National Assembly on Thursday, October 8, 2020, announced that the National Assembly will be funded with N128 billion in 2021.
Buhari also expressed optimistism that the National Assembly will approve the budget proposal in due time. He said the theme of the 2021 budget was economic recovery and resilience.
The President, who was accompanied by Vice-President Yemi Osinbajo, some cabinet members and presidential aides, arrived the premises of NASS at about 11.03p.m.
He explained that the total aggregate revenue projected for the 2021 budget was N7.86 trillion with a deficit of N5.2 trillion, representing 3.4 per cent of the GDP.
He said the deficit would be financed mainly by new borrowing, totalling N4.28 trillion.
Source: Signal
