President Muhammadu Buhari to present 2021 budget

 Senate President, Ahmad Ibrahim Lawan has said the President, Muhammadu Buhari will present the 2021-2023 budget to the National Assembly by next week. The federal government proposed N12.66 trillion as aggregate expenditure for the 2021 fiscal year. This proposal was stated in the 2021-2023 (MTEF/FSP). 

Lawan commended the Joint Committee on Finance and National Planning with the Federal Ministry of Finance, Budget and National Planning on the 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP). 

He said:
“The committee interacted with over 300 MDAs over the issues of revenue generation and remittance to federal government.
“The joint committee will present its report to the Senate today for consideration. This is a precursor to the presentation of the 2021 Budget Estimates by the Executive Arm of Government soon.
“I am aware that the Executive will be presenting the 2021 Budget Estimates by next week.
“Like last year, the month of October, 2020 will be dedicated for this exercise. Subsequent months of November and December will be dedicated to the internal processing of the budget by NASS.
“the various MDAs are therefore advised to ensure that they avail themselves the opportunity of the budget defense window to appear with all the relevant and necessary information to defend their Budget Estimates.
The proposed budget will be on deficit of N5.16 trillion and will be partially financed by a loan package of N4.28 trillion.

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