Highlights of the 2021 Capital Projects and Key capital spending allocations in the 2021 Budget presented by President Muhammadu Buhari has emerged.
Naija News had reported earlier that President Buhari presented a N13.08 trillion 2021 Appropriation Bill before a joint session of the National Assembly for consideration and approval on Thursday, October 8.
According to President Buhari, the 2021 capital budget is N1.15 trillion higher than the 2020 provision of N2.69 trillion. The President added that at 29 percent of aggregate expenditure, the provision moves closer to this Administration’s policy target of 30 percent.
President Buhari said in his budget presentation speech at the National Assembly complex that the Capital expenditure in 2021 remains focused on the completion of as many ongoing projects as possible, rather than the commencement of new ones.
“We have also made efforts to ensure equity in the distribution of projects and programmes in the proposed budget. I will be providing the National Assembly a list of some of the most critical projects which we must work collectively to ensure they receive adequate funding. Until projects reach completion, they do not deliver the dividends of democracy that Nigerians rightly deserve,” the President said.
Below are the highlights of the 2021 Capital Projects and key capital spending allocations in the 2021 Budget.
1. Power: N198 billion (inclusive of N150 billion for the Power Sector Recovery Plan);
2. Works and Housing: N404 billion;
3. Transportation: N256 billion;
4. Defence: N121 billion;
5. Agriculture and Rural Development: N110 billion;
6. Water Resources: N153 billion;
7. Industry, Trade and Investment: N51 billion;
8. Education: N127 billion;
9. Universal Basic Education Commission: N70 billion;
10. Health: N132 billion;
11. Zonal Intervention Projects: N100 billion
12. Niger Delta Development Commission: N64 billion.