• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Sunday, July 6, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home News

Nigeria’s 2021 budget is N13.08trn

The Matters Press by The Matters Press
October 8, 2020
Reading Time: 2 mins read
0
UNGA: Buhari addresses the World

Buhari presents budget

Buhari presents budget
Buhari presents budget

RELATED POSTS

Atiku’s mockery of Nigeria over Trump’s invitation to 5 African nation, a display of poor knowledge of global affairs

Nigeria’s new flood insurance policy laudable, needs quick application, says TMSG

Nigeria’s approval of dual NCE, B.Ed degrees in 15 colleges of education a good omen

By Tanko Mohammed

Nigeria’s President Muhammadu Buhari on Thursday presented the 2021 budget proposal of N13.08trillion to the National Assembly for consideration and passage into law.

The president, who was accompanied by Vice-President Yemi Osinbajo, some cabinet members and presidential aides, arrived the premises of NASS at about 11.03p.m.

He explained that the total aggregate revenue projected for the 2021 budget was N7.86 trillion with a deficit of N5.2 trillion, representing 3.4 per cent of the GDP.

He said the deficit would be financed mainly by new borrowing, totalling N4.28trillion.

Buhari stated that the total revenue available to fund the 2021 federal budget was estimated to N7.886trillion which included grants and aids of N354.85billion as well as revenues of 60 government owned enterprises.

According to him, the budget, which is described as a budget for Economic Recovery and Resilience, is based on an estimated oil price benchmark of 40 dollars per barrel, daily oil production estimate of 1.86 million barrels (inclusive of condensates of 300,000 to 400,000 barrels per day) and an exchange rate of N379 per dollar.

“Based on the foregoing fiscal assumptions and parameters, total federally distributable revenue is estimated at N8.433 trillion in 2021. Total revenue available to fund the 2021 Federal Budget is estimated at N7.886 trillion.

“This includes Grants and Aid of N354.85 billion as well as the revenues of 60 government-owned Enterprises.

According to him, oil revenue is projected at N2.01 trillion and non-oil revenue is estimated at N1.49 trillion.

“As you will observe, the format of the 2021 Appropriation Bill has been

modified to include budgeted revenues, no matter how small, for each MDA, to focus on internal revenue generation.

“Accordingly, I implore you to pay as much attention to the revenue side as you do to the expenditure side.

He stated that N3.12trillion had been earmarked for debt servicing in 2021 as against N2.1trillion in 2020

The president, who reviewed the performance of the 2020 budget so far, said the budget was amended in response to the challenges occasioned by the COVID-19 pandemic.

“As at July 2020, the Federal Government’s actual revenue available for the budget was N2.10 trillion.

“This revenue performance was only 68 percent of our pro-rated target in the revised 2020 budget.

“At N992.45 billion, oil revenue performed well above our budget target, by 168 per cent. Non-oil tax revenues totalled N692.83 billion, which was 73 percent of the revised target.’’

Tags: Budget
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Drop your frustration, let President Tinubu be, Group picks on Atiku
Economy/Technology

Atiku’s mockery of Nigeria over Trump’s invitation to 5 African nation, a display of poor knowledge of global affairs

July 5, 2025
Veritas Kapital’s total assets hit N21.4bn
Economy/Technology

Nigeria’s new flood insurance policy laudable, needs quick application, says TMSG

July 4, 2025
Salvaging basic education from ruins of Boko Haram war in Borno
Economy/Technology

Nigeria’s approval of dual NCE, B.Ed degrees in 15 colleges of education a good omen

July 3, 2025
Group hails Presidential Council initiative, welcomes President Tinubu’s N2tn stabilisation package
Economy/Technology

Nasarawa showcases efficient use of fuel subsidy savings, exposes futility of Tinubu’s opposition’s mischief – TDF

July 1, 2025
Property owners besiege FCT office to pay ground rent
Economy/Technology

Transformational in FCT in line with Tinubu’s Renewed Hope agenda

June 30, 2025
China’s agricultural wholesale products prices continue to drop
Agriculture

Ignore Atiku’s claim to dilute historic mechanised farming deal with Belarus

June 29, 2025
Next Post
Buhari presents N8.8trn 2019 budget

2021 Budget Address of Buhari

Nigerians’ protest against police brutality unending

Nigerians’ protest against police brutality unending

Recommended Stories

Court frees Adeleke over exam malpractice

Court frees Adeleke over exam malpractice

May 29, 2020
Buhari presents N8.8trn 2019 budget

Esele encourages Nigeria to borrow for capital projects

October 20, 2021
Nigerian firms to handle $4b gas project

Local content in oil sector grows to 42%

April 28, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Atiku’s mockery of Nigeria over Trump’s invitation to 5 African nation, a display of poor knowledge of global affairs
  • Nigeria’s new flood insurance policy laudable, needs quick application, says TMSG
  • Nigeria’s approval of dual NCE, B.Ed degrees in 15 colleges of education a good omen

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us