Nigerian Senate passes N13.5trn 2021 budget

The  Nigerian Senate has passed the 2021 budget totalling N13.5trn. The fiscal document is predicated on oil benchmark $40 per barrel, N3.324trn for debt servicing, N4.1trn for capital expenditure, N5.6 trillion for recurrent while N496 bn was earmarked for statutory transfer.

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The budget has an increment of N505bn.

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Recall that President Buhari presented a N13.082trn budget to National Assembly on October 8.