NASS Increases 2021 budget By 505billion, Approves N13.588trillion

Lawan Knocks Buhari Over Preparation Towards COVID-19 Vaccination 

The National Assembly on Monday approved N13.588 trillion as the 2021 budget against the N13.08 trillion earlier pre­sented by President Muham­madu Buhari in October.

This shows an increase of about N505 billion.

The Senate explained that the budget was increased be­cause of the late receipt of spending from the executive.

“There was also the late receipt of spending request for the upscaling of the Na­tional Social Investment Programme (NSIP) from the executive amounting to N365 billion.

The discovery of under projection of the total revenue to the tune of N100 billion,” the Senate said.

While a total of N496.528 billion was approved for statu­tory transfer, the National As­sembly also approved N3.324 trillion for debt servicing.

N4.125 trillion was ap­proved for capital expenditure and N5.641 trillion for recur­rent expenditure.

Benchmark price of crude oil was fixed at $40 per bar­rel; crude oil production at 1.86mbpd; exchange rate at N379/$, and Gross Domestic Production (GDP) growth rate at 3.00 percent.

The Senate also explained that it has approved N5.196 trillion as a deficit, which will be financed by some multilat­eral and bilateral project-tied loans worth N709 billion.

For capital expenditure in the year 2021, the sum of N24,090,340,416 was bud­geted for the presidency; N127,850,984,984 for Ministry of Defence; N7,994,280,245 for Ministry of Foreign Affairs; N19,721,066,865 for Federal Ministry of Information and Culture; N38,846,293,565 for Ministry of Interior; N2,491,111,568 for Office of the Head of the Civil Service of the Federation; N218,432,074 for Auditor General of the Federation; N17,882,480,948 for Ministry of Police Affairs; N17,664,285,343 for Ministry of Communication and Digital Economy, and N45,647,587,613 for the Office of the National Security Adviser.

Others are the Infrastruc­ture Concessionary Regulato­ry Commission, N353,678,953; Office of the Secretary to the Government of the Federa­tion, N45,637,061,225; Special Duties and Intergovernmen­tal Affairs, N8,872,787,424; Federal Ministry of Agri­culture and Rural Devel­opment, N211,077,457,584; Federal Ministry of Fi­nance, Budget and National Planning, N376,359,450,498; Federal Ministry of Indus­try, Trade and Investment, N64,760,781,172; Federal Min­istry of Labour and Employ­ment, N63,526,109,193; Feder­al Ministry of Science and Technology, N107,061,118,360; Federal Ministry of Trans­port, N209,736,113,910; Fed­eral Ministry of Aviation, N70,189,215,332, and Fed­eral Ministry of Power, N206,745,895,389.

In addition, N3,340,140,120 was approved for Ministry of Petroleum Resources; N12,605,747,806 for the Min­istry of Mines and Steel Development; N399,694,565,222 for the Federal Ministry of Works and Housing; N110,455,765 for the National Salaries and Wages Commis­sion; N261,170,602 for the Fis­cal Responsibility Commis­sion; N159,745,000,315 for the Federal Ministry of Water Resources; N5,097,558,027 for the Federal Ministry of Jus­tice; N1,363,636,403 for the In­dependent Corrupt Practices and other related offences Commission; N37,330,762,421 for the Federal Capital Terri­tory Administration. ­

The sum of N22,024,592,197 was approved for the Minis­try of Niger Delta Affairs; N10,639,249,276 for the Federal Ministry of Youth and Sports Development; N11,204,210,256 for Ministry of Women Af­fairs; N156,172,307,765 for the Federal Ministry of Ed­ucation; N134,591,025,027 for Federal Ministry of Health; N24,554,710,490 for Federal Ministry of Environment; N4,839,951,093 for National Population Commission, and N75,768,539,782 for the Federal Ministry of Humanitarian Af­fairs, Disaster Management and Social Development.

Meanwhile, the President of the Senate, Ahmad Lawan, has warned that the National Assembly would not approve another request from the ex­ecutive to extend the capital implementation of the 2020 budget.

Lawan stated this in his re­mark after the upper chamber passed a N13.58 trillion budget for the 2021 fiscal year.

According to the Senate President, the National As­sembly’s approval granting extension for the implemen­tation of the capital compo­nent of the 2020 budget, last week, should therefore be fully utilised by Ministries, Departments and Agencies of government.

He added that the exten­sion of capital implemen­tation of the 2020 budget till March 31, 2021, alongside implementation of the 2021 budget starting in January 2021 would guarantee suffi­cient injection of funds into the economy.

Meanwhile, the upper chamber of the National As­sembly has adjourned plena­ry till January 26.

Similarly, the House of Representatives also passed N13.588 trillion as the coun­try’s budget for 2021.

The figure was up by N505 billion from the original esti­mate of N13.08 trillion Pres­ident Buhari laid before a joint session of the National Assembly on October 8.

The House approved $40 as the crude oil benchmark.

It approved N4.1 trillion for capital expenditure, N5.6 trillion for recurrent expendi­ture and N3.3 trillion for debt servicing.

The sum of N496 billion was also approved for statu­tory transfers by lawmakers on Monday.

Speaker of the House of Representatives, Femi Gbaja­biamila, said that 9th National Assembly passed the budget in record time to keep to the promise made during its in­auguration.

Lawan also expressed his displeasure about the federal government preparation towards vaccination of Nigerians, adding that the level of preparedness leaves much to be desired.

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