August 3, 2021
  • August 3, 2021

President Buhari signs N13.59 trln 2021 budget

By on December 31, 2020 0 138 Views

By Oludare Mayowa

President Muhammadu Buhari on Thursday signed the 2021 N13.59 trillion Appropriation Bill passed last week by the Nationa Assembly into law, according to a tweet by the presidency.

President @MBuhari  signing the 2021 Appropriation Bill into Law at the State House this morning,” the presidency wrote on the Twitter handle @NGRPresident.

The National Assembly had transmitted the budget document to the president after the two arms of the parliament passed the spending estimate.

The assent of the president on the document signified the readiness of the government to implement the content of the 2021 Appropriation Act as passed by the National Assembly.

The signing of the budget before the close of the year is the second of such since the advent of democracy in 1999 as successive administrations have struggled to keep to the January to December budget cycle without success.

Last year, the President also signed this year’s budget on December 17, kickstarted the first time to achieve the Jan to Dec budget cycle.

Though the government later sent a revised version of the 2020 budget to the National Assembly for approval after the shock necessitated by the advent of the coronavirus pandemic.

The signing of the document also signified alignment between the executive and the legislators in terms of the content of the spending estimate for 2021.

While the executive had presented a budget of N13.08 trillion before the joint sitting of the Parliament on October 8, 2020, the legislators jacked up the budget to N13.88 trillion while passing the bill on December 21, indicating an increase of over N505 billion.

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