Buhari Presents 2021 Budget Proposal Of N13.08trillion To The National Assembly

Endy Edeson October 08, 2020

The President was accompanied by Vice-President Yemi Osinbajo, some cabinet members and presidential aides, to a joint session of the National Assembly today October 8 where he presented the budget which is tagged ''Budget of Economic Recovery and Resilience''.

The proposed budget is predicated on a deficit of N5.15 trillion and will be partly financed by a loan package of N4.28 trillion.

President Buhari said the total revenue available to fund the 2021 federal budget was estimated to N7.886trillion which included grants and aids of N354.85billion as well as revenues of 60 government-owned enterprises.

He told the lawmakers that the budget is based on an estimated oil price benchmark of 40dollars per barrel, daily oil production estimate of 1.86 million barrels (inclusive of condensates of 300,000 to 400,000 barrels per day) and an exchange rate of N379 per dollar.

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