Buhari Signs N13.588 Trillion 2021 Budget Into Law

President Muhammadu Buhari will spend N13.588 trillion starting from January 1st to December 31st 2021 fiscal year.

Buhari signed the budget into law this morning at State House, Abuja.

The 2021 budget was passed into law by the National Assembly with over 500 billion naira increase from its original figure of N13.08 trillion presented by the President.

The military will spend over N1.06 trillion for defence.

The government of Buhari will borrow N4 trillion in 2021 to finance the budget.

Out of the N5 trillion overhead cost, Buhari will use N3 trillion to pay old debts owed locally and internationally.

Out of the N4 trillion personnel cost, Buhari will use less than N2 trillion to pay salaries and wages.

Buhari will then use more than N2 trillion pay allowances meant especially for controllable and avoidable special duties and local and international travels.

Nigerian Army alone will use less than N140 billion for salaries and wages and the same land soldiers will spend more than N320 billion as allowances.

This is unlike America who will spend larger part of its 2021 budget to create more employment opportunities and sustained its over 2.153 million soldiers.

America will spend more than $600 billion out of its less than $800 billion Defence budget to pay salaries and wages.

Nigeria soldiers, both air, land and water not up to 500 thousand.