Blue Update

Nigerian Senate Passes N13.5trn 2021 BUDGET

The  Nigerian Senate has passed the 2021 budget totalling N13.5trn. The fiscal document is predicated on oil benchmark $40 per barrel, N3.324trn for debt servicing, N4.1trn for capital expenditure, N5.6 trillion for recurrent while N496 bn was earmarked for statutory transfer.

The budget has an increment of N505bn.

Recall that President Buhari presented a N13.082trn budget to National Assembly on October 8.

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