The Federal Executive Council (FEC) on Wednesday in Abuja approved a budgetary proposal of N13.08trillion for the 2021 fiscal year.
The Minister of Finance, Budget and National Planning, Hajiya Zainab Ahmed, made this known when she briefed State House correspondents on the outcome of the Council meeting.
She explained that the total aggregate revenue projected for the 2021 budget was N7.89 trillion with a deficit of N4.48 trillion.
According to the minister, the total capital expenditure projected in the budget is 29 percent of the aggregate expenditure, saying the 29 per cent is an improvement over the 24 percent projected in budget 2020.
“We have a total aggregate revenue of N7.89 trillion and also an aggregate expenditure of N13.08 trillion for 2021.
“There’s a fiscal deficit of N4.489 trillion, this represents 3.64%, slightly above what is required by the Fiscal Responsibility Act of 3% and also to report that the total capital expenditure that is projected in the…
Source: Guardian Newspaper