President Muhammadu Buhari will on Thursday present the 2021 Appropriation Bill at a joint sitting of the National Assembly.
This was made known in a letter sent by President Buhari to the National Assembly and read by Ahmad Lawan, Senate President, on Tuesday.
“May I crave the kind indulgence of the distinguish Senate to grant me the slot of 11 hours on Thursday 8th October, 2020 to formally present the 2021 Appropriation Bill to the Joint Session of the National Assembly,” the letter partly reads.
“While I look forward to addressing the joint session, please accept, Mr Senate President, the assurances of my highest regards.”
Recall the Federal Executive Council (FEC) at its last meeting approved N13.09 trillion budget estimate for 2021 fiscal year.
Zainab Ahmed, the Minister of Finance, budget and national planning, told newsmen after the meeting that the budget is based on an exchange rate benchmark of N379/$ and crude oil production of 1.86 million barrels per day (including 400,000 barrels of condensate) at $40 per barrel.