President Muhammadu Buhari has signed the 2021 national budget and the finance bill into law today at the Council Chambers of the State House in Abuja, ahead of the new fiscal year.
The President had presented the proposed 2021 budget to the National Assembly on the 8th of October and got an approval 13 days after. NASS, while approving the budget, raised the estimate of N13.082 trillion to N13.588 trillion, seeing a N505 billion increase from the proposed figures presented by the President.
The budget tagged ‘Budget of Economic Recovery and Resilience’, then got the President’s final sign today, 31st December. According to the president, the budget 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. Read also: Buhari’s 2021 Budget Not Capable of Tackling Nigeria’s Recession – House of Reps
The president also promised that the budget will address the challenges caused by the pandemic on the economy. On revenue generation, President Buhari warned heads of revenue-generating agencies to remit early and threatened sanctions for defaulters.
President Buhari flanked by VP Osinbajo (left) and Senate President Lawan ( right) as he signed the budget
