We didn’t say Buhari’s handling of economy is ‘directionless’ — Nigerian Economic Society, We hope to commission Second Niger Bridge before 2023 – Buhari, Budget 2021: Buhari increases National Assembly’s allocation, reduces defence ministry’s, EFCC secures court order to freeze Lagos Speaker Obasa’s bank accounts, Another recession looms with ‘adverse consequences’ – Buhari, Budget 2021: Lawan, Gbajabiamila assures speedy passage, Tinubu, Alpha-beta, others accused of fraud, tax evasion, money laundering, UPDATED: Buhari presents Nigeria’s N13 trillion 2021 budget to lawmakers, COVID-19: DisCos promise Nigerians free electricity for two months, NYSC Orientation Camps Address Nationwide, Nigeria’s Federal/States’ Budgets since 2005.

document.write('<\/a>'); While the speedy passage of the budget is commendable, it is important to zoom in on the specific details of the budget items and what the budget means for the citizenry and the economy at large.

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The budget will become operational when President Muhammadu Buhari gives his assent to it.

FILE PHOTO: President Muhammadu Buhari presenting the Budget to the National Assembly. The lawmakers had postponed resumption to adhere to the lockdown directive from the president. You need JavaScript enabled to view it. Nigeria senate on Thursday passed the revised 2020 budget of N10.8 trillion, only marginally lower than the record 10.59 trillion naira budget approved in December. Central Business Area, P.M.B. 2021 FGN Budget Bilateral Circular 02/09/2020. QueenEsther Iroanusi covers the National Assembly for PREMIUM TIMES. A sum of N2.9 trillion was earmarked for debt servicing. Zulum meets Buhari, advocates political solution, Johnny Depp Quits Fantastic Beasts Series, Federal Government, Odele differ on passport seizure, ‘Over 82.9 million Nigerians currently living below poverty line’, Coronavirus, Lassa, yellow fever not behind Delta, Enugu mystery deaths, says NCDC, Resurgence of COVID-19 threatens 2021 budget, says FG, Reps panel decry N7 billion allocation for Army to buy weapons, Biden at 253/264 electoral votes, Trump at 214: US media, Ndoma-Egba seeks return of father’s jurist robes, Muslim community petitions police over threat to life, wrongful demolition of mosque in Lagos, Election observer accuses Trump of 'gross abuse of office', Senate frowns at rising cost of Buhari's foreign medical trips, Coronavirus - Malawi: COVID-19 Daily Information Update (5th November 2020), Coronavirus - Africa: COVID-19 Update (5 November 2020), Coronavirus - Zambia: Daily status update (5th November 2020), Coronavirus - Ethiopia: COVID-19 reported cases in Ethiopia (5 November 2020), There are Unmatched Investment Returns in Africa Despite the Challenges, Africa Investment Forum’s (AIF) Anohu Tells Global Business Leaders, Coronavirus - Kenya: COVID-19 updates (6 November 2020), Coronavirus - Zimbabwe: COVID-19 Update (5 November 2020).

Amaechi proposes N205bn budget for … The 2020 budget was presented on October 8, 2019, and in the shortest cycle since 1999, the budget was signed into law on December 17, 2019. Based on the new proposed budget, statutory transfers (a category into which the National Assembly budget falls), were cut by N152.67 billion from N560.47 billion to N407.8 billion. Nigeria News; Metro; Headlines ; Politics; Opinion; Sports; Entertainment; Search; NEWS | ENTERTAINMENT | SPORTS. 2021 Budget of Economic Recovery and Resilience, HMFBNP Public Presentation of 2021 FGN Budget, Revised 2021-2023 Medium Term Fiscal Framework, 2020 First Quarter Budget Implementation Report. Senate President Ahmad Lawan during the plenary on Wednesday express his anger that the executive arm of government ignored part of the budget meant to take care of health emergencies caused by the COVID-19 pandemic. He said while N314 billion was captured as part of the intervention fund, the balance of N186 billion proposed for the health sector, was not. document.write(' 1024){var script=document.createElement('script'); script.src='//served-by.pixfuture.com/www/delivery/headerbid.js'; script.setAttribute("slotId","20018x300x600x3423x_ADSLOT9"); script.setAttribute("refreshInterval",30); script.setAttribute("refreshTime",5); document.getElementById("20018x300x600x3423x_ADSLOT9").appendChild(script);}, All content is Copyrighted © 2020 The Premium Times, Nigeria, Our website uses cookies. This comes weeks after the Senate joint committee on finance, appropriations, national planning and petroleum resources (upstream), in an interim report, called for a review of the budget.

The federal government has cut down the 2020 budget by over N320 billion and proposed a new budget of N10.27 trillion against the N10.59 trillion passed by the national assembly.

This email address is being protected from spambots. addy9211 = addy9211 + 'budgetoffice' + '.' + 'gov' + '.' + 'ng'; All budget systems have three basic tasks: Maintain aggregate fiscal discipline, Allocate resources in accordance with government priorities, Promote the efficient delivery of services. With the review of the 2020 budget, it is hoped that the government will be able to finance the budget without the economy plunging into recession. Highlights (NGN’Billion) 2020 Proposed 2019 Budget % Change Aggregate Revenue 8,155 7,000 16.50% To enable commenting and other interactive features, please switch to the more advanced . Sorry, your blog cannot share posts by email.

She is a 2018 Female Reporters Leadership Programme fellow of the Wole Soyinka Centre for Investigative Journalism. If the lockdown affects demand for crude, it would mean reduced forex earnings for Nigeria and an “inability to finance the budget and meet key government obligations,” adds Segun. //-->\n The Budget Office of the Federation was established to provide budget function, implement budget and fiscal policies of the Federal Government of Nigeria.

She has a degree in French. The exchange rate was, however, increased from N305 to N360 to a dollar. The new budget proposal reduces the oil benchmark from $57 per barrel to $30 per barrel while the oil production volume was reduced from 2.18 million barrels to 1.70 million barrels, the newspaper reports. The Nigerian government is basing its 2021 benchmark at $40 per barrel, up from $30 from 2020, when the country had to revise the 2020 budget oil benchmark from $57 per barrel to $30. document.write(''); In the same vein, revenue projection from signature bonus was revised downward from N939.3 billion to N568.68 billion, while revenue from stamp duty was reduced from N463.94 billion to N200 billion. By continuing to use this website you are giving consent to cookies being used.

11 June 2020 | 12:17 pm Nigeria senate on Thursday passed the revised 2020 budget of N10.8 trillion, only marginally lower than the record 10.59 trillion naira budget approved in December.