Buhari Submits 2021 Budget Next Week as 2020 Buget Suffers $14 bn Loss
President Muhammadu Buhari will next week submit the 2021 budget to the National Assembly.
This was disclosed by the President of the Senate, Dr. Ahmad Lawan, who appealed to Senators to begin their oversight functions on the federal ministries, departments, and agencies (MDAs) for the assessment of their 2020 revised budget.
In his speech welcoming senators from an eight-week recess, he called on the senators to devote October for budget defence and November for internal processing of documents.
According to him, “I am aware that the president will submit the 2021 budget estimates to us next week.”
He also disclosed that the revised 2020 Appropriation Act encountered a loss of over $14bn loss for what he attributed to over dependence oil.
He said, “We were confronted with an over $14billion revenue gap and the grim reality of an unwholesome overdependence on oil.”
This was disclosed by the President of the Senate, Dr. Ahmad Lawan, who appealed to Senators to begin their oversight functions on the federal ministries, departments, and agencies (MDAs) for the assessment of their 2020 revised budget.
In his speech welcoming senators from an eight-week recess, he called on the senators to devote October for budget defence and November for internal processing of documents.
According to him, “I am aware that the president will submit the 2021 budget estimates to us next week.”
He also disclosed that the revised 2020 Appropriation Act encountered a loss of over $14bn loss for what he attributed to over dependence oil.
He said, “We were confronted with an over $14billion revenue gap and the grim reality of an unwholesome overdependence on oil.”
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