21 December 2020 By Aisha Adesanya
The House of Representatives has passed the sum of over thirteen trillion naira as Appropriation Bill for 2021 fiscal year.
The budget passed is 500 Billion naira higher than the 13.08 Trillion naira earlier presented before the joint session of the National Assembly by President Muhammadu Buhari.
Out Of the total budget about six Trillion naira is for recurrent expenditure, four point two Trillion naira for Capital expenditure and three point thirty two Trillion for Debt servicing.
Passage of the 2021 fiscal year Bill followed presentation, consideration and adoption of the report of the joint house committees of the National Assembly on Appropriation.
Presenting the report on the floor of the house, Chairman of the Committee Aliyu Betera, said the joint Committee has also approved about five hundred naira for statutory Transfers for the year ending 2020.
Aliyu Betera, further confirmed that sectors with highest allocation in the 2021 Appropriation Bill includes Defence with about eight hundred and forty Billion naira, Education over five hundred and forty five Billion naira, Police Affairs about four hundred and thirty eight Billion naira while Health sector received over three hundred and eighty Billion naira.
The House thereafter adjourned plenary to 26th January, 2021 to allow the lawmakers celebrate Christmas and New Year.