2021 Budget For Nigeria

Budget of economic recovery and resilience.

2021 budget for nigeria. The total sums of n74 66 billion and n271 52 billion were budget for recurrent and capital expenditure respectively. The budget office is structured into six departments six operational departments and three units. Highlights the 2021 budget has a deficit of about n5 20tn approximately 3 64 of gdp.

Non debt recurrent costs of n5 65 trillion 43 of the budget. The budget is expected to accelerate the pace of nigeria s economic recovery promote economic diversification enhance competitiveness and ensure social inclusion. The total proposed budget sum for 2021 is n346 169 972 082.

This was contained in a statement released by the special assistant press to the senate president ezrel tabiowo according to the. Each department is sub divided into divisions for functional purposes. Personnel costs of n3 76 trillion 29 of the budget.

The 2021 capital budget is n1 15 trillion higher than the 2020 provision of n2 69 trillion. Nigeria s president muhammadu buhari presented the 2021 budget on 8 october 2020 to the joint session of the national assembly. The proposed 2021 budget themed budget of economic recovery and resilience is designed against the backdrop of a global economic crisis and domestic impact of covid 19.

Nigeria s 2021 budget of economic recovery and resilience standard by deloitte october 10 2020 no comments president muhammadu buhari on thursday 8 october 2020 presented the 2021 budget the budget of the federal government of nigeria fgn at a joint session of the national assembly. This is above the 3 threshold set by the fiscal responsibility act due to the economic challenges attributable to covid 19. The budget office of the federation was established to provide budget function implement budget and fiscal policies of the federal government of nigeria.

The proposed revenue and expenditure budgets for 2021 are 7 89 trillion and 13 08 trillion respectively resulting in 5 20 trillion fiscal deficit. 2021 appropriation bill budget 2021. Nigeria s president muhammadu buhari presented the 2021 budget on 8 october 2020 to the joint session of the national assembly.