Senate Increases 2021 Budget by N5.05bn, Passes N13.5trn

The Senate Monday passed the sum of N13.5 trillion appropriation bill for 2021 fiscal year.

The red chamber made an upward review of the Budget by N5.05 billion from the N13.08 trillion presented by President Muhammadu Buhari in October.

The passage of the budget was sequel to the consideration of a report by the Senate Committee on Appropriations, chaired by Senator Barau Jibrin (APC, Kano).

The Red Chamber also approved the sum of N496.5 billion as Statutory Transfers; N5.6 trillion as recurrent expenditure; N4.1 trillion as capital expenditure N3.3 trillion as debt servicing and N4.1 trillion as contribution to the Development Fund for capital expenditure.

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