President Buhari To Present 2021 Budget To Nat’l Assembly

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President Buhari will on Thursday the 8th of October, 2020 present the 2021 budget to a joint session of the National Assembly.

This was contained in a letter addressed to Senate President Ahmed Lawan and read during Tuesday’s plenary requesting the audience of lawmakers in both chambers for the presentation of the budget.

The Senate is expected to consider and pass the 2021-2023 Medium Term Expenditure Framework MTEF and Fiscal Strategy Paper FSP before President Buhari submits the 2021 appropriation bill.

Earlier, the Federal Executive Council (FEC) finalized the proposal of a N13.08tr budget estimate for the 2021 fiscal year.

READ ALSO: FEC Approves N13.08 Trillion 2021 Budget

The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, disclosed this to journalists last week Wednesday after the weekly Federal Executive Council meeting at the Presidential Villa.

The breakdown of the proposed budget puts expenditure at 29% Capex, with a deficit of N4.48 trillion; FX: N379/$; and GDP growth targeted at 3%.

The Federal Government also targets inflation rate at 11.96 percent.

On the three percent estimated growth amid the impact of COVID-19 on world economies, the Minister of Finance said the policies put in place to ensure inclusive growth while stimulating the economy should produce the desired results

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