…budget jacked up by over N500,000,000,000 billion
By Doris Igwe
The house of Representatives in a special session on Monday, passed the 2021 budget in tune of N13,588,027,886,175.
Presenting the summary of the Budget, the chairman house committee on appropriation, Hon Hon Aliyu Muktar Betara said “That the House do consider the Report of the Committee on Appropriations on a Bill for an Act to authorise the issue from the Consolidated Revenue Fund of the Federation the total sum of N13,588,027,886,175 (Thirteen Trillion, Five Hundred and Eighty–Eight Billion, Twenty–Seven Million, Eight Hundred and Eighty–Six Thousand, One Hundred and Seventy–Five Naira) only, of which N496,528,471,273 (Four Hundred and Ninety–Six Billion, Five Hundred and Twenty–Eight Million, Four Hundred and Seventy–One Thousand, Two Hundred and Seventy–Three Naira) only is for Statutory Transfers, N3,324,380,000,000 (Three Trillion, Three Hundred and Twenty–Four Billion, Three Hundred and Eighty Million Naira) only is for Debt Service, N5,641,970,060,680 (Five Trillion, Six Hundred and Forty–One Billion, Nine Hundred and Seventy Million, Sixty Thousand, Six Hundred and Eighty Naira) only is for Recurrent (Non–Debt) Expenditure while the sum of N4,125,149,354,222 (Four Trillion, One Hundred and Twenty–Five Billion, One Hundred and Forty–Nine Million, Three Hundred and Fifty–Four Thousand, Two Hundred and Twenty–Two Naira) only is for contribution to the Development Fund for Capital Expenditure for the year ending 31 December, 2021
Recall that President Muhammadu Buhari on the 8th October 2020 presented the proposed 2021 budget of N13 trillion to the National Assembly.
The Speaker of the House of Representatives, Rep Femi Gbajabiala in his speech assured Nigerians that the 9th house of assembly will continue to commit itself to security of lives and property of Nigerians as he wished his colleagues Merry Christmas.
House of Representatives adjourned plenary to 26th January, 2021
