Buhari sends budget back national assembly
A current event!
On December 4, 2020, President Muhammadu Buhari of Nigeria sent the 2021 budget back to the National Assembly, citing concerns over the proposed expenditure and revenue projections.
According to reports, the President returned the budget to the National Assembly with a letter, stating that he was not satisfied with the budget as presented. He expressed concerns over the following issues:
- Revenue projections: The President felt that the revenue projections were too optimistic and did not take into account the country's economic challenges.
- Expenditure: He was concerned that the budget did not prioritize key areas such as infrastructure development, education, and healthcare.
- Debt servicing: The President expressed worry that the budget allocated too much to debt servicing, which could compromise the country's ability to fund other important sectors.
The President's decision to send the budget back to the National Assembly is seen as a significant development in the country's budget-making process. It is expected to lead to further negotiations and revisions to the budget before it is finally passed.
The National Assembly had earlier passed the 2021 budget, which was estimated to be around N13.5 trillion (approximately $35 billion). The budget was expected to be signed into law by the President, but his decision to send it back has put a hold on the process.
The development has sparked reactions from various stakeholders, including lawmakers, civil society organizations, and the general public. Some have expressed support for the President's decision, while others have criticized it, arguing that it could delay the implementation of important projects and programs.