Finance Ministry reduce 2021 Presidency budget to N10bn
NEWSMAN, Abuja – Ministry of Finance, Budget, and National Planning has put the expenditure ceiling of the 2021 pre-bilateral proposal for the Presidency at N10 billion against the N15.3 billion of the revised 2020 budget passed by the National Assembly.
This was contained in a statement issued by Attah Esa, Deputy Director (Information) State House, Abuja. According to the statement, Federal Government agencies in the Presidency, at the weekend held consultations for the 2021 budget, Vanguard reported.
The consultations which were virtual took place at the conference room of the State House administrative block. The Permanent Secretary, State House, Mr Tijjani Umar, led the budget bilateral meeting between the government agencies under the Presidency and officials of the Federal Ministry of Finance, Budget, and National Planning.
The statement explained that “It was attended by Chief Executives and key budget, finance and accounts staff of the Bureau of Public Enterprises (BPE), Bureau of Public Procurement (BPP) Nigeria Extractive Industries Transparency Initiative (NEITI), National Institute of Policy and Strategic Studies (NIPSS), Nigerian Financial Intelligence Unit (NFIU), National Agricultural Land Development Authority (NALDA) and the Economic and Financial Crimes Commission (EFCC).
“The preparation of the 2021 budget estimates takes into consideration the policies and strategies contained in the 2021-2023 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP), which is the Federal Government pre-budget statement.”
Umar also said in line with the directive issued by the Ministry of Finance, Budget, and National Planning, the annual budget is being prepared using the Zero-Based Budget (ZBB) approach and in compliance with the government’s policy thrust as articulated in the MTEF/FSP and Nigeria Economic Sustainability Plan (NESP).
Citing a September 1, 2020 circular issued by the Minister of Finance, Budget and National Planning, Dr Zainab Ahmed, the Permanent Secretary, State House, said “MDAs have been directed to work assiduously to conclude the budget bilateral meetings as scheduled in order to get the 2021 budget ready for transmission to the National Assembly (NASS) by President Muhammadu Buhari this month.
“The latest budget circular issued by the Ministry of Finance, Budget and National Planning put the expenditure ceiling of the 2021 pre-bilateral proposal for the Presidency at N10 billion compared with N15.3 billion of the revised 2020 budget passed by the National Assembly.”