It is with pleasure that I present the 2021 Federal Budget Proposals to this Joint Session of the National Assembly.
Distinguished and Honourable Leaders, and Members of the National Assembly, at this juncture, I wish to commend your tremendous efforts in approving the revision of the 2020 – 2022 Medium-Term Expenditure Framework and Fiscal Strategy Paper, and passage of the 2020 Appropriation (Repeal and Amendment) Act, in response to the Coronavirus Pandemic.
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Acting President Yemi Osinbajo, SAN, on May 18th 2017, signed three executive orders that will significantly change some of the ways government business and operations are conducted in the country forthwith.
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The Budget Office of the Federation was established to provide budget function, implement budget and fiscal policies of the Federal Government of Nigeria.
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The Budget Office of the Federation was established to provide budget function, implement budget and fiscal policies of the Federal Government of Nigeria.
The Budget Office is structured into six departments - six operational departments and seven units.
The departments are Revenue/Fiscal Policy, Expenditure Social, Expenditure Economics, Budget Monitoring and Evaluation, Human Resources Management, Finance and Accounts. The Units are ICT, ACTu, Procurement, Legal, Stock Verification, Internal Audit and Servicom.
The Minister of Finance, Budget and National Planning, Zainab Shamsuna Ahmed, explained that the macroeconomic environment was significantly disrupted by the Covid-19 pandemic, necessitating Mr. President’s presentation of a revised 2020 budget on 28th May, 2020 which was signed into law on 10th July, 2020.
Interestingly, the 2021 FGN Budget Proposal was also laid on the 8th of October, 2020. This underscores the Buhari Administration’s commitment to firmly return the country to a January – December Budget cycle.
The FGN 2021 Budget of ‘Economic Recovery and Resilience’ is expected to reposition the Nigerian economy on the path of recovery, growth and resilience.
The Budget Office of the Federation was established to provide budget function, implement budget and fiscal policies of the Federal Government of Nigeria. The Budget Office is structured into six departments - six operational departments and three units. Each department is sub-divided into divisions for functional purposes.
All budget systems have three basic tasks: Maintain aggregate fiscal discipline, Allocate resources in accordance with government priorities, Promote the efficient delivery of services.
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