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Nigeria: Budget 2021 Breakdown – What President Buhari Proposes All Groups

President Buhari Budget 2021 (Photo: NTA News)

President Buhari Budget 2021 (Photo: NTA News)

The National Assembly has been presented with the 2021 budget estimate by President Muhammadu Buhari. The presentation took place during a joint session of the two chambers.

Upheld by the Medium Term Expenditure Framework (MTEF) which the Senate and House of Representatives had approved, the estimated budget for 2021 is N13.08 trillion.

The crude oil benchmark price is staged at $40 per barrel, the exchange rate at N379 to $1, GDP at 3.00 per cent and the inflation rate at 11.95 per cent.

The president proposed that daily oil production estimate (condensates of 300,000 to 400,000 barrels per day included) would be at 1.86 million barrels.

President Buhari 2021 Budget Breakdown

The occasion opened with a speech from the president where he designated the 2021 budget ‘Economic Recovery and Resilience’. This is a means to promote economic diversity and enhance social inclusion.

More so, the 2021 budget will accelerate economic recovery by charting a direction in the post-coronavirus economy.

President Buhari is proposing the following in the 2021 budget:

(President Muhammadu Buhari Photo: NTA) The National Assembly got about N3 billion raise – from N125 -N128 – in the 2021 budget in comparison to the previous years.

NEDC and NDDC

N29.7 billion for the North East Development Commission

N63.5 billion for the Niger Delta Development Commission

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