The Republic of Seychelles on Thursday began voting in the country’s presidential and National Assembly elections. The polls will last three days. Three men – Wavel…
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President Muhammadu Buhari has increased the allocation for the National Assembly in the 2021 budget by N3 billion when compared to previous years.
The president allocated N128 billion – a rise on the N125 billion budgetary allocation in past years.
This was contained in the 2021 budget estimates presented to a joint session of the National Assembly on Thursday.
The total proposed expenditure is put at N13.08 trillion with a crude oil benchmark price of $40 per barrel and a daily oil production estimate of 1.86 million barrels (inclusive of condensates of 300,000 to 400,000 barrels per day). The Director-General of the Lagos Chamber of Commerce and Industry. Muda Yusuf explained the positives of the budget
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“Our projected oil revenue has declined by over 80 percent,” said Ben Akabueze, head of the Budget Office in a video conference in Abuja on Tuesday.