President Muhammadu Buhari has presented the proposed 2021 Budget of N13 trillion to the National Assembly.
According to the president, the budget termed Budget Of Economic Recovery and Resilience will address key economic issues as the country tries to recover from the impact of the coronavirus and the oil price drop.
He says the government is determined to accelerate the country’s economic recovery process, while decrying the revenue generation challenges.
Compared to budget presentations done in previous years, the President was only accompanied by Vice President Yemi Osinbajo and a few ministers, while the others participated virtually.
According to Senate President Ahmed Lawan, the new arrangement became necessary in order to maintain social distancing during the presentation, as a result of the COVID-19.
Before presenting the proposed budget, the President gave a breakdown of the performance of the 2020 budget.
Senate President Ahmed Lawan addresses the lawmakers. He also notes that while the 2020 budget focussed on job creation and economic stability among other things, the 2021 budget is targetted at the consolidating on the of gains on the 2020 budget.
President Buhari addresses the House on the performance of the 2020 budget.
He notes that the challenging global and economic environment had major implications on the nation.
He, however, highlights that the government did not relent on its effort at poverty alleviation and job creation. One of which included the Public Works Programme.
The President adds that despite the challenges, the government has delivered on key polices, programmes and projects.
He says the 2021 budget is tagged the budget of economic recovery and resilience.
According to the president, “the main thrust of the 2021 budget is to complete as many ongoing projects as possible,” while giving priority to the ones that most affect the people. Channels TV
Personnel costs remain the largest single item of expenditure, says President Muhammadu Buhari.
— Channels Television (@channelstv) October 8, 2020