The President of Nigeria, Muhammadu Buhari will on Thursday, 8th October 2020, present the proposed 2021 budget figures to a joint sitting of the National Assembly.
This was confirmed in his letter of request to the lawmakers which was read on Tuesday during plenary by the Senate President, Ahmad Lawan, in Abuja.
The letter reads: “May I crave the kind indulgence of the Distinguished Senate to grant me the slot of 11:00hrs on Thursday, 8th October, 2020, to formally present the 2021 Appropriation bill to the Joint Session of the National Assembly.
“While I look forward to addressing the Joint session, please, accept Mr. Senate President, the assurances of my highest regard.”
Naija News recalls the Federal Executive Council (FEC) had last week Wednesday, approved a N13.08 trillion national budget for the 2021 fiscal year.
This was disclosed in Abuja to State House Correspondents after the weekly virtual FEC meeting presided over by President Muhammadu Buhari.
Speaking further the Minister for Finance, Budget and National Planning, Mrs. Zainab Ahmed who made this known stated that the projected Capital Expenditure for the year is projected at N2.083 trillion.
She added that the oil benchmark has been pegged at $40 per barrel. Other indices projected to tune the 2021 Budget include oil production at 1.86 million barrels per day, including 400,000 barrels of condensate; Gross Domestic Product (GDP) growth target at 3%; inflation target at 11.95%; and foreign exchange set at N379 to one dollar.
Source: Naija News