Nigeria proposes N12.7 trillion budget for 2021

The Nigerian government is proposing a N12.658 trillion budgets for the 2021 fiscal year, details of its budget call to Ministries, Departments and Agencies (MDAs) have shown.

According to a circular posted on the website of the Budget Office of the Federation on Monday, the aggregate revenue available for budget for 2021 is projected at N7.498 trillion while the aggregate expenditure level is projected to be N12.658 trillion.

These projections, the government said, are in accordance with its 2021-2023 Medium-Term Expenditure Framework and Fiscal Strategy Paper.

The circular, signed by the minister for finance, Zainab Ahmed, noted that the key parameters for the 2021-23 fiscal framework were set in line with the global and domestic economic outlook.

Ahmed noted that the aggregate expenditure is made up of Statutory Transfers of N481.41 billion, Debt Service of N3.124 trillion, Sinking Fund of N220 billion, Recurrent (non-debt) expenditure of N5.746 trillion and Capital expenditure (exclusive of capital in Statutory Transfers) of N3.086 trillion.

Of the capital expenditure, MDAs Capital is N1.485 trillion, the circular said.

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