President Muhammadu Buhari has presented the proposed 2021 Budget of N13 trillion to the lawmakers.
Compared to budget presentations done in previous years, the President was only accompanied by Vice President Yemi Osinbajo and a few ministers, while the others are expected to participate virtually.
According to Senate President Ahmed Lawan, the new arrangement became necessary in order to maintain social distancing during the presentation, as a result of the COVID-19.
Before presenting the proposed budget, the President gave a breakdown of the performance of the 2020 budget.
The lawmakers also passed the 2021-2023 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).
Live Updates.
11:10 am: The event commenced with both Christian and Muslim prayers.
11:15 am: Senate President Ahmed Lawan addresses the lawmakers. He also notes that while the 2020 budget focussed on job creation and economic stability among other things, the 2021 budget is targetted at the consolidating on the of gains on the 2020 budget.
11:20 am: President Buhari addresses the House on the performance of the 2020 budget.
He notes that the challenging global and economic environment had major implications on the nation.
He, however, highlights that the government did not relent on its effort at poverty alleviation and job creation. One of which included the Public Works Programme.
The President adds that despite the challenges, the government has delivered on key polices, programmes and projects.
President Muhammadu Buhari says the theme of the 2021 budget is economic recovery and resilience.#CTVLiveTweets#Budget2021 pic.twitter.com/MfgDAASSeI
— Channels Television (@channelstv) October 8, 2020
He says the 2021 budget is tagged the budget of economic recovery and resilience.
According to the president, “the main thrust of the 2021 budget is to complete as many ongoing projects as possible”, while giving priority to the ones that most affect the people.
Personnel costs remain the largest single item of expenditure, says President Muhammadu Buhari.
The President speaks on how he hopes to eliminate ghost workers:#CTVLiveTweets#Budget2021 pic.twitter.com/wbLhXuZE08
— Channels Television (@channelstv) October 8, 2020
12: 13 pm: Speaker of the House of Representatives Femi Gbajabiamila, gives a closing address.
He says the House will collaborate with all relevant ministries and agencies to ensure speedy implementation of the 2021 budget.
12: 24 pm: The House rises for the National Anthem.
