President Muhammadu Buhari on Thursday announced the National Assembly (NASS) will receive the sum of N128 billion as allocation in the 2021 budget as proposed.
It was gathered that there was a mild drama as President Buhari made the announcement during the presentation of the 2021 Appropriation Bill.
Buhari paused as he read the proposed 2021 allocation for the NASS. This aroused laughter and applause on the floor of the House of Representatives where the 2021 Appropriation Bill was presented.
According to the president, the N128 billion forms part of the sum of N484.49 billion provided for statutory transfers in the 2021 budget estimates.
The sum of N484.49 billion provided for statutory transfers in the 2021 budget represents an increase of N56.46 billion (or 13 per cent) over the revised 2020 provision.
The statutory transfers provided in the 2021 budget estimates are N63.51 billion for the Niger Delta Development Commission (NDDC), N29.70 billion for the North East Development Commission, N110.00 billion for the National Judicial Council and N70.05 billion for the Universal Basic Education Commission.
Others are N40.00 billion for the Independent National Electoral Commission (INEC), N5.20 billion for the Public Complaints Commission, N3.00 billion for the Human Rights Commission and N35.03 billion for Basic Health Care Provision Fund.
Buhari stated that, “in compliance with the Fiscal Responsibility Act 2007, all beneficiaries of statutory transfers will be required to provide the budget office of the federation with periodic reports on the allocation and expenditure of funds for inclusion in the quarterly budget implementation report”.
The 2021 Budget is themed ‘Economic Recovery and Resilience’ with the aim of promoting economic diversification and social inclusion.
Click to signup for FREE news updates, latest information and hottest gists everydayAdvertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com