President Muhammadu Buhari on Thursday presented a N13.08 trillion budget estimate for 2021 to the joint session of the National Assembly for consideration and approval.
The budget which was presented at the National Assembly, NASS Complex, Abuja has been tagged, budget of “Economic Recovery and Resilience”.
The budget is estimated to be functional using the average price of $40 per barrel for crude oil.
During the presentation, Buhari explained that multiple Rural Electrification Projects, Mambilla Hydro Power Project, Zungeru Hydro Power Project, among others, are key power projects under the 2021 Budget.
“N420 Billion has been earmarked for the Social Investment Programmes, while 20 Billion has been earmarked for the Social Housing Programmes.
“Fund has been provided in the 2021 budget to establish five new Federal Science and Technical Colleges across the country”, Buhari said.
The 2021 budget estimates have statutory transfers of N484.49 billion which includes the following:
•NNPC = 29.7bn
•NJC = N110bn
•UBEC = N70.05bn
•INEC = N40bn
•NASS = N128bn
•PCC = N5.2bn
•NHRC = N3bn
•Basic Health = N35.03bn