The House of Representatives on Monday, passed N13.5trillion as the country’s budget for 2021.
The figure is up by N505bn from the original estimates of N13.08tn that President Muhammadu Buhari laid before a joint session of the National Assembly on October 8.
The session presided over by the Speaker, Rep. Femi Gbajabiamila, approved $40 as the crude oil benchmark for the budget.
The House approved N4.1tn for capital expenditure, N5.6tn for recurrent expenditure and N3.3tn for debt servicing.
Advertisement
The sum of N496bn was also approved for statutory transfers by lawmakers on Monday.
The House achieved the objective of keeping to the January-December budget cycle by passing the budget after spending slightly over two months at the legislature.
