In a bid to ensure a January to December budget calendar, President Muhammadu Buhari on Thursday signed the 2021 budget into law at the Council Chambers of the State House in Abuja.
The president signed the 2021 Appropriation Bill of N13,588,027,886,175 which is N505 billion higher from the initial figures presented by the president on October 8.
The National Assembly had in a special joint session last Monday passed the budget for the 2021 fiscal year.
The 2021 budget tagged “the budget of economic recovery and resilience and, according to the president, is critical for the legacy of this administration in ensuring security, economic growth, and implementing health and emergency measures to counter the spread of the COVID-19 pandemic.
Out of the total sum of N13.59tn for 2021, N496.53bn is for statutory transfers; N3.32tn is for debt service; N5.64tn is for recurrent (non-debt) expenditure; while the sum of N4.13trn is for capital expenditure.