President Muhammadu Buhari has signed the 2021 Appropriation Bill of N13,588,027,886,175 into law.
The ceremony was held inside the Council Chamber, Abuja.
This followed the earlier passing of the bill by the National Assembly on Dec. 21 during an emergency session convened for the purpose of passing the budget.
The signing of the budget is also in line with the president’s promise to return the nation to the January to December Budget circle.
This was contained in a tweet by the Presidency on Twitter on Thursday.
The National Assembly had last week passed the appropriation bill with an increase of N505, 607,317,942 from the estimate of N13, 082, 420, 568,233 presented to the joint sitting of the lawmakers by the president.
The president had on October 8, 2020 presented the appropriation bill to the national for consideration and approval.
Breakdown of the signed budget comprises total Capital Supplementation of N1,060,751,051,650. Statutory Transfer stands at N496,528,471,273; recurrent Expenditure of N5,641,970,060,680 and Gross Domestic Product (GDP) growth rate of 3.00 Per cent.
It also provides N3,324,380,000 trillion for debt servicing while N5,641,970,060,680 is for Recurrent Expenditure; and N4,125,149,354,222 for Capital Expenditure.
Also, the president signed the 2020 Finance Bill into law.
Those who witnessed the signing of the budget include the Vice-President, Yemi Osinbajo, Senate President Ahmad Lawan and the Speaker of the House of Representatives, Femi Gbajabiamila.
Others at the Council Chamber were the Secretary to the Government of Federation, Boss Mustapha, some cabinet ministers as well as few top government officials.
