Beta Gossip

World's Best Gossip Blog
Menu
  • HOME
  • News
  • Health
  • Entertainment
  • Schools
  • Devotional
  • Cryptocurrency
    • Insurance
    • Loans and Grants
  • Sports
News

Unbelievable: The 2021 Budget deficit to hit N5.196tr as National Assembly passes appropriation bill.

betagossippounds December 22, 2020

Table of Contents

  • The 2021 Budget deficit to hit N5.196tr as National Assembly passes appropriation bill, see details below:
          • “The 2021 Budget deficit to hit N5196tr”
          • “The 2021 Budget deficit to hit N5196tr”
  • ALSO READ: Ronaldinho’s mother, Dona Miguelina tests positive for COVID 19

The 2021 Budget deficit to hit N5.196tr as National Assembly passes appropriation bill, see details below:

 

Lawan Vs Ndume: APC in fight of its life

“The 2021 Budget deficit to hit N5196tr”

The National Assembly, yesterday, approved N13.588 trillion for Nigeria’s 2021 Budget. Of the figure, the sum of N496.528 billion was approved for statutory transfer.

From Fred Itua and Ndubuisi Orji, Abuja .

The Senate and the House of Representatives also approved the N3.324 trillion for debt servicing in a budget that provided N4.125 trillion for capital expenditure and N5.641 trillion as recurrent expenditure. 

The budget as passed is predicated on $40 United States per barrel for crude oil benchmark, with oil production at 1.86 million barrels per day (mbpd).

For the 2021 Budget, the lawmakers had also put the  official exchange rate on at N379 to one United States dollar, with  the Senate explaining it had also approved N5.196 trillion as deficit for the appropriation bill.

According to the Red Chamber, the deficit will be financed by some multilateral and bilateral project-tied loans worth N709 billion. Also yesterday, President of the Senate, Ahmad Lawan, said the National Assembly had foreclosed additional loan request from the Executive to extend the capital implementation of the 2020 budget.

Lawan stated this in his remark after the Upper Chamber passed a N13.58 trillion budget for the 2021 fiscal year. 

According to him, the National Assembly’s approval granting extension for implementation of the capital component of the 2020 budget last week, should therefore be fully utilised by Ministries, Departments and Agencies of Government.

He added that the extension of capital implementation of the 2020 budget till March 31, 2021; alongside the implementation of the 2021 budget starting in January 2021, would guarantee sufficient injection of funds into Nigeria’s economy. 

He said: “For Nigerians, this budget that has been passed in the National Assembly today, is to ensure that the economy is supported fully through public expenditure, because it depends largely on public expenditure. 

“The budget extension period for implementation of the 2020 budget, which we did last year, is to ensure that the funds that are available for 2020 are not lost. 

“So, there will be two budgets running; funds from January 1, 2021, up to March 31, 2021; and then the implementation of the 2021 budget itself to start from January. That is absolute fight against the recession we are suffering at the moment. 

“The 2021 Budget deficit to hit N5196tr”

ALSO READ: Ronaldinho’s mother, Dona Miguelina tests positive for COVID 19

 

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • More
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)
Share
Tweet
Email
Prev Article
Next Article

Related Articles

IPOB warns security agents against Mazi Ofornedu detention See details …

IPOB warns security agents against Mazi Ofornedu detention

NBC gets 48 hour ultimatum to withdraw fines
NBC Gets 48 Hour Ultimatum to Withdraw Fines Slammed on …

Breaking News: NBC Gets 48 Hour Ultimatum to Withdraw Fines Slammed on Arise, AIT, Channels.

About The Author

betagossippounds

Leave a Reply

Cancel reply

Recent Posts

  • Breaking News: After the alleged battle with Burna Boy,David threatens to leave music.
  • Unbelievable: How to line up Chelsea against Arsenal!!!
  • Breaking News: Renowned Nollywood producer Chico Ejiro is dead!!!
  • Breaking News: The Caucus of PDP Reps Threatens to Impeach Buhari !!!
  • Unbelievable: Mesut Ozil names most underrated player
  • Unbelievable: National Assembly told Fastest Way to Remove Buhari From Office
  • British Fighter: Anthony Joshua Gives Update on Heavyweight Fight with Tyson Fury.
  • Unbelievable: The 2021 Budget deficit to hit N5.196tr as National Assembly passes appropriation bill.
  • Ronaldinho’s mother, Dona Miguelina tests positive for COVID 19
  • Breaking News: Anthony Okungbowan regains freedom (Edo Head of Service)

Must Read

  • Breaking News: After the alleged battle with Burna Boy,David threatens to leave music.
  • Unbelievable: How to line up Chelsea against Arsenal!!!
  • Breaking News: Renowned Nollywood producer Chico Ejiro is dead!!!
  • Breaking News: The Caucus of PDP Reps Threatens to Impeach Buhari !!!
  • Unbelievable: Mesut Ozil names most underrated player
  • Unbelievable: National Assembly told Fastest Way to Remove Buhari From Office
  • British Fighter: Anthony Joshua Gives Update on Heavyweight Fight with Tyson Fury.

Beta Gossip

World's Best Gossip Blog

Popular Posts

  • what happened between Queency Benna and Alaska Obi
    Breaking News: Etinosa reveals what Happened between …
    0
  • How to line up Chelsea against Arsenal
    Unbelievable: How to line up Chelsea against …
    0
  • Renowned Nollywood producer Chico Ejiro is dead
    Breaking News: Renowned Nollywood producer Chico Ejiro …
    0
  • Breaking News: The Caucus of PDP Reps …
    0
  • Mesut Ozil names most underrated player
    Unbelievable: Mesut Ozil names most underrated player
    0
  • Unbelievable: National Assembly told Fastest Way to …
    0
  • Anthony Joshua gives update on heavyweight fight with Tyson Fury
    British Fighter: Anthony Joshua Gives Update on …
    0
  • The 2021 Budget deficit to hit N5196tr
    Unbelievable: The 2021 Budget deficit to hit …
    0
  • Dona Miguelina tests positive for COVID 19
    Ronaldinho’s mother, Dona Miguelina tests positive for …
    0
  • Anthony Okungbowan regains freedom
    Breaking News: Anthony Okungbowan regains freedom (Edo …
    0

Related Posts

  • IPOB warns security agents against Mazi Ofornedu …
    0
  • Federal Government to invest
    Shocking news: Federal Government to invest $2.3 billion on …
    0
  • Nigerian Soldiers kill most wanted criminal
    BREAKING NEWS: Nigerian Soldiers kill most wanted …
    0
  • Akpabio talks about refurbishing NDDC
    Breaking news: Akpabio talks about refurbishing NDDC, explains  …
    0
  • NSCDC arrests man over alleged murder
    BREAKING NEWS: NSCDC arrests man over alleged …
    0
Copyright © 2021 Beta Gossip

Ad Blocker Detected

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker.

Refresh