President Muhammadu Buhari has on Thursday signed the 2021 appropriation bill into law.
The brief signing ceremony was done inside the President’s office at the Presidential Villa, Abuja.
It would be recalled that the National Assembly passed the 2021 appropriation bill, raising the total estimates from the proposed N13. 08 trn to N13, 588,027,886,175, an increase of over N500 bn.
The N13.5 trillion budget will run from January 1st- to December 31st in 2021.
Out of the total sum of N13. 59 tn for 2021 , N496 .53 bn is for statutory transfers; N3. 32 tn is for debt service; N5. 64 tn is for recurrent ( non- debt ) expenditure; while the sum of N4. 13 trn is for capital expenditure.
While statutory transfers totalling N496. 53 bn were approved , it was observed that the N125bn proposed for the National Assembly and its affiliates had been raised by N8. 99 bn, putting the new total estimates at N133 . 99 bn .