In News by Oluwaseun Samuel on the 08th, October, 2020

Full Textual content Of President Buhari’s 2021 Finances Speech

Full Text Of President Buhari’s 2021 Budget Speech


President Muhammadu Buhari

President, Muhammadu Buhari earlier immediately offered a price range of N13 trillion to the joint arm of the Nationwide Meeting for approval for the 2021 fiscal yr.

Within the price range tagged: “Finances of financial restoration and resilience,” Buhari mentioned the primary thrust of the 2021 price range was to finish as many ongoing tasks as doable whereas giving precedence to those that almost all affected the folks.

He mentioned the 2021 price range would drive the MDAs to generate income, irrespective of how little, whereas urging the Legislature to concentrate to the income as a lot as they did to the expenditure.

See Full Speech Beneath;

1. It’s with pleasure that I current the 2021 Federal Finances Proposals to this Joint Session of the Nationwide Meeting.

2. Distinguished and Honourable Leaders, and Members of the Nationwide Meeting, at this juncture, I want to commend your great efforts in approving the revision of the 2020 – 2022 Medium-Time period Expenditure Framework and Fiscal Technique Paper, and passage of the 2020 Appropriation (Repeal and Modification) Act, in response to the Coronavirus Pandemic.

Three. Immediately marks an essential event in our quest to accord the federal price range course of the seriousness it deserves. According to our dedication, we’ve got labored additional exhausting to make sure early submission of the 2021 –2023 Medium-term Expenditure Framework and Fiscal Technique Paper, in addition to the 2021 Appropriation Invoice. It’s my honest hope that the Nationwide Meeting will move this Invoice into regulation early sufficient to allow implementation by 1st January 2021, given the collaborative method through which the price range was ready.

four. In the midst of this deal with, I’ll current the highlights of our price range proposals for the following fiscal yr. The Honourable Minister of Finance, Finances and Nationwide Planning will, later, present the total particulars of those proposals.

Latest Developments

1. The 2021 Finances was ready amidst a difficult world and home setting because of the persistent headwinds from the Coronavirus Pandemic. The ensuing world financial recession, low oil costs and heightened world financial uncertainty have had essential implications for our economic system.

2. The Nigerian economic system is at the moment dealing with critical challenges, with the macroeconomic setting being considerably disrupted by the Coronavirus Pandemic. Actual Gross Home Product (‘GDP’) progress declined by 6.1 % within the second quarter of 2020. This ended the Three-year development of optimistic, however modest, actual GDP progress recorded because the second quarter of 2017. I’m glad to notice that, by means of our collective efforts, our economic system carried out comparatively higher than that of many different developed and rising economies.

Three. GDP progress is projected to be adverse within the third quarter of this yr. As such, our economic system might lapse into the second recession in 4 years, with vital adversarial penalties. Nonetheless, we’re working assiduously to make sure a fast restoration in 2021. We stay dedicated to implementing programmes to elevate 100 million Nigerians out of poverty over the following 10 years.

four. As expertise’ deficits restrict employment alternatives within the formal economic system, numerous expertise’ growth programmes are being carried out concurrently to handle this downside frontally. For example, the Authorities is implementing the Particular Public Works programme to supply employment alternatives to 774,000 youths throughout the 774 native authorities areas of Nigeria. We now have additionally not too long ago launched the N75 billion Nigeria Youth Funding Fund, of which N25 billion have been supplied in 2021 Finances.

5. We thank all Nigerians, in your perseverance and continued assist throughout these troublesome occasions. We stay unwavering in our dedication to actualize our imaginative and prescient of a vibrant future for everybody.

Efficiency Of The 2020 Finances

6. Distinguished and Honourable Members of the Nationwide Meeting, you’ll recall that the 2020 ‘Finances of Sustaining Progress and Job Creation’ was amended in response to latest fiscal pressures. I’m glad to report that these efforts enabled us to successfully reply to the general public well being problem of Coronavirus outbreak and reasonable financial influence.

7. Pursuant to our revised assumptions, the amended 2020 Finances was primarily based on a benchmark oil value of 28 US per barrel; oil manufacturing of 1.80 million barrels per day; and alternate fee of N360 to the US Greenback.

eight. Based mostly on these price range parameters, mixture income of N5.84 trillion was projected to fund N10.81 trillion in expenditure. The projected deficit of N4.98 trillion, or Three.57 % of GDP, is anticipated to be financed primarily by borrowing.

9. In 2020, common each day oil manufacturing was 1.88 mbpd as much as June, as towards the revised estimate of 1.80 mbpd for your entire yr. Nonetheless, the market value of Bonny Mild crude averaged 40.79 US per barrel, considerably larger than the revised benchmark value of 28 US .

10. As at July 2020, the Federal Authorities’s precise income out there for the price range was N2.10 trillion. This income efficiency was solely 68 % of our pro-rated goal within the revised 2020 price range. At N992.45 billion, oil income carried out properly above our price range goal, by 168 %. Non-oil tax revenues totalled N692.83 billion, which was 73 % of the revised goal.

11. To enhance unbiased income efficiency, I’ve directed that the fee profiles of Authorities Owned Enterprises (‘GOEs’) must be scrutinized and limits imposed on their cost-to-revenue ratios. Supervising Ministers have additionally been directed to make sure nearer monitoring of the income producing actions and expenditures of the Authorities Owned Enterprises.

12. On the expenditure aspect, as at finish of July 2020, a complete of N5.37 trillion had been spent as towards the pro-rated expenditure of N5.82 trillion. Accordingly, the deficit was N3.27 trillion. This represents 66 % of the revised budgeted deficit for the total yr.

13. Regardless of these challenges, we met our debt service obligations. We’re additionally updated on the fee of statutory transfers and employees salaries, whereas overhead prices have been considerably coated.

14. For the primary time in recent times, we commenced the implementation of this yr’s capital price range within the first quarter. As at 15th September 2020 a complete of about N1.2 trillion had been launched for capital tasks. Each Federal MDA has acquired a minimum of 50 % of its 2020 capital expenditure price range, in keeping with my earlier directives.

15. Let me emphasise that income era stays our main problem. However, Authorities is set to sort out the persisting issues with home useful resource mobilization, as there’s a restrict to deficit financing by means of borrowing. The time has come for us to take care of a wholesome steadiness between assembly our rising expenditure commitments and our long-term public monetary well being.

Key Achievements In The 2020 Fiscal 12 months

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34. Over the past yr, this Administration has carried out a number of precedence tasks. I’m comfortable to report that a lot progress has been made on a number of fronts and our Authorities has delivered on key insurance policies, programmes and tasks in these precedence areas.

16. In agriculture, we’ve got recorded considerable success in rice and different crops primarily by means of the Anchor Debtors Programme and the Presidential Fertilizer Initiative, anchored by the Central Financial institution of Nigeria and the Nigeria Sovereign Funding Authority, respectively. We’re additionally accelerating the development of 337 rural roads round key agricultural corridors to reinforce entry to market and scale back post-harvest losses. These efforts have decreased the adversarial influence of Coronavirus on our meals availability, costs and safety.

17. We now have made progress on the railway tasks connecting totally different elements of the nation. The Lagos-Ibadan Line will quickly be operational. The Abuja-Kaduna Line is working effectively. The Itakpe-Ajaokuta Line was lastly accomplished after over 30 years because it was initiated and commissioned in September 2020.

18. Preparations are underway to finish the Ibadan-Kano Line. Additionally, work will quickly start on the Port Harcourt-Maiduguri Line and Calabar-Lagos Coastal Line, which is able to join the Southern and Japanese States to the North, and the South-South in addition to South-East to the North, and South-West, respectively.

19. The Second Niger Bridge is at about 46 % completion. We hope to fee the challenge earlier than the top of our tenure in 2023. We now have awarded a number of contracts to rehabilitate, reconstruct and assemble main arterial roads, so as to scale back the hardship to commuters and enhance financial exercise.

20. To bridge the infrastructure deficit, we’re additionally implementing modern financing methods to pull-in non-public sector funding. The Infrastructure Firm, which I not too long ago authorized, will turn into a world-class infrastructure growth automobile, wholly targeted on making important infrastructural investments in Nigeria. This Infrastructure Firm will elevate funding from the Central Financial institution of Nigeria, the Nigeria Sovereign Funding Authority, the Africa Finance Company, pension funds in addition to native and overseas non-public sector growth financiers.

21. Underneath the Highway Infrastructure Tax Credit score Scheme, we’re endeavor the development and rehabilitation of over 780km of roads and bridges, nationwide, to be financed by the grant of tax credit to investing enterprise. Ongoing tasks underneath this scheme embrace:

a. Development and Rehabilitation of Lokoja-Obajana-Kabba-Ilorin Highway Part II (Obajana-Kabba) in Kogi and Kwara States;

b. Development of Apapa-Oworonshoki-Ojota Expressway in Lagos State; and

c. Development of Bodo-Bonny highway with a Bridge throughout the Opobo Channel in Rivers State.

22. To reinforce good governance, we strengthened our anti-corruption businesses to make sure they work independently and collectively, whereas respecting the rule of regulation. We now have additionally labored to handle emergent instances of insecurity and insurgency, nationwide, with modern approaches. Our safety operations within the Niger Delta, North Central and North West are yielding desired outcomes. We’re decided to eliminate bandits, kidnappers and felony behaviour from our midst.

Theme & Priorities Of The 2021 Finances

23. Distinguished Senators; Honourable Members; let me now flip to the 2021 Appropriation Invoice, which is designed to additional ship on the targets of our Financial Sustainability Plan. This Plan supplies a transparent highway map for our post- Coronavirus financial restoration as a transitional plan to take us from the Financial Restoration and Progress Plan (2017 – 2020) to the successor Medium-Time period Nationwide Improvement Plan (2021 – 2025).

24. In view of the various challenges confronting us, we should speed up our financial restoration course of, promote social inclusion and strengthen the resilience of the economic system. The 2021 Appropriation has, subsequently, been themed the ‘Finances of Financial Restoration and Resilience’. It’s anticipated to speed up the tempo of our financial restoration, promote financial diversification, improve competitiveness and guarantee social inclusion.

Parameters & Fiscal Assumptions Underpinning The 2021 Appropriation

25. Distinguished Members of the Nationwide Meeting, the 2021 – 2023 Medium Time period Expenditure Framework and Fiscal Technique Paper set out the parameters for the 2021 Finances, which embrace:

a. Benchmark oil value of 40 US per barrel;

b. Each day oil manufacturing estimate of 1.86 million barrels (inclusive of Condensates of 300,000 to 400,000 barrels per day);

c. Alternate fee of N379 per US Greenback; and

d. GDP progress projected at % and inflation closing at 11.95 %.

Finance Invoice 2020

26. Distinguished and Honourable Members; I’ve directed the Minister of Finance, Finances and Nationwide Planning to finalise the Finance Invoice 2020, which might be forwarded in your type consideration and passage into regulation, shortly after immediately’s 2021 Finances presentation. The Finance Invoice is to assist the belief of our 2021 income projections, undertake applicable counter-cyclical fiscal insurance policies and improve the effectivity of fiscal incentives.

Tax Expenditure Assertion

27. In compliance with the Fiscal Duty Act of 2007, we are going to put together and publish, a Tax Expenditures Assertion for 2019. The 2019 Assertion would be the first of those annual Statements, setting out the estimated value of tax exemptions, incentives and rebates supplied underneath Nigeria’s income and different legal guidelines. The 2019 Assertion is anticipated to contribute to public dialogue on the usage of our tax insurance policies and system to attain socio-economic growth.

Federal Authorities Income Estimates

28. Based mostly on the foregoing fiscal assumptions and parameters, whole federally distributable income is estimated at N8.433 trillion in 2021. Whole income out there to fund the 2021 Federal Finances is estimated at N7.886 trillion. This contains Grants and Assist of N354.85 billion in addition to the revenues of 60 Authorities-Owned Enterprises.

29. Oil income is projected at N2.01 trillion. Non-oil income is estimated at N1.49 trillion. As you’ll observe, the format of the 2021 Appropriation Invoice has been modified to incorporate budgeted revenues, irrespective of how small, for every MDA, to give attention to inside income era. Accordingly, I implore you to pay as a lot consideration to the income aspect as you do to the expenditure aspect.

Deliberate 2021 Expenditure

30. An mixture expenditure of N13.08 trillion is proposed for the Federal Authorities in 2021. This contains N1.35 trillion spending by Authorities-Owned Enterprises and Grants and Assist funded expenditures of N354.85 billion. For 2021, the proposed N13.08 trillion expenditure contains:

a. Non-debt Recurrent Prices of N5.65 trillion;

b. Personnel Prices of N3.76 trillion;

c. Pensions, Gratuities and Retirees’ Advantages of N501.19 billion;

d. Overheads of N625.50 billion;

e. Debt Service of N3.124 trillion;

f. Statutory Transfers of N484.49 billion; and

g. Sinking Fund of N220 billion (to retire sure maturing bonds).

Fiscal Steadiness

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1. The 2021 Finances deficit (inclusive of Authorities Owned Enterprises and project-tied loans), is projected at N5.20 trillion. This represents Three.64 % of estimated GDP, barely above the three % threshold set by the Fiscal Duty Act, 2007. It’s, nevertheless, to be famous that we nonetheless face the existential problem of Coronavirus Pandemic and its aftermath; I consider that this supplies a justification to exceed the brink as supplied for by this regulation.

31. The deficit might be financed primarily by new borrowings totalling N4.28 trillion, N205.15 billion from Privatization Proceeds and N709.69 billion in drawdowns on multilateral and bilateral loans secured for particular tasks and programmes.

Statutory Transfers

32. The sum of N484.49 billion supplied for Statutory Transfers within the 2021 Finances represents a rise of N56.46 billion (or 13 %) over the revised 2020 provision. The Statutory Switch provisions are:

a. Niger Delta Improvement Fee – N63.51 billion;

b. North East Improvement Fee – N29.70 billion;

c. Nationwide Judicial Council – N110.00 billion;

d. Common Primary Schooling Fee – N70.05 billion;

e. Unbiased Nationwide Electoral Fee – N40.00 billion;

f. Nationwide Meeting – N128.00 billion;

g. Public Complaints Fee – N5.20 billion;

h. Human Rights Fee – N3.00 billion; and

i. Primary Well being Care Provision Fund – N35.03 billion.

33. In compliance with the Fiscal Duty Act 2007, all beneficiaries of Statutory Transfers might be required to supply the Finances Workplace of the Federation with periodic studies on the allocation and expenditure of funds for inclusion within the quarterly Finances Implementation Report.

Recurrent Expenditure

34. In our efforts to reinforce nationwide safety and human capital growth, a serious a part of the 2021 recurrent value estimate is allotted to paying salaries and overheads in MDAs offering these important public companies. These embrace:

a. N227.02 billion for the Ministry of Inside;

b. N441.39 billion for the Ministry of Police Affairs;

c. N545.10 billion for Ministry of Schooling;

d. N840.56 billion for Ministry of Defence; and

e. N380.21 billion for Ministry of Well being.

Personnel Prices

35. Personnel value continues to be our largest single merchandise of expenditure. Within the 7 months to 31st July 2020, it accounted for 34 % of whole Federal Authorities spending and is projected at 33 % of 2021 expenditure.

36. To verify the incidence of funds to non-existent personnel and unauthorised allowances, solely Federal employees which have been captured on the Built-in Personnel Payroll Data System (‘IPPIS’) platform will obtain salaries.

37. All businesses have been directed to make sure that they receive all essential approvals earlier than embarking on any recent recruitment. Any breach of those directives might be severely sanctioned.

Debt Service

38. We stay dedicated to assembly our debt service obligations. Therefore, we’ve got provisioned N3.12 trillion for this in 2021, representing a rise of N445.57 billion from N2.68 trillion in 2020. A complete of N2.183 trillion has been put aside to service home money owed whereas N940.89 billion has been supplied for overseas debt service. N220 billion is supplied for transfers to the Sinking Fund to repay maturing bonds issued to native contractors and collectors.

Overhead Prices

39. Whole overhead prices of MDAs and Authorities Owned Enterprises are projected to rise to N625.50 billion in 2021, primarily because of the inclusion of the overheads of an extra 50 Authorities Owned Enterprises. Overhead provisions have additionally been made for newly created businesses. To maintain a tab on working prices, MDAs should adhere to extant expenditure controls.

Capital Expenditure

40. An mixture sum of N3.85 trillion is anticipated to be out there for capital tasks in 2021, as summarised under:

a. N1.80 trillion for MDAs’ capital expenditure;

b. N745 billion for Capital Supplementation;

c. N355 billion for Grants and Assist-funded tasks;

d. N20 billion for the Household Properties Fund;

e. N25 billion for the Nigeria Youth Funding fund;

f. N336 billion for 60 Authorities Owned Enterprises;

g. N247 billion for capital part of Statutory Transfers; and

h. N710 billion for tasks funded by Multi-lateral and Bi-lateral loans.

41. The 2021 capital price range is N1.15 trillion larger than the 2020 provision of N2.69 trillion. At 29 % of mixture expenditure, the availability strikes nearer to this Administration’s coverage goal of 30 %.

42. Capital expenditure in 2021 stays targeted on the completion of as many ongoing tasks as doable, quite than the graduation of latest ones. We now have additionally made efforts to make sure fairness within the distribution of tasks and programmes within the proposed price range. I might be offering the Nationwide Meeting a listing of a number of the most crucial tasks which we should work collectively to make sure they obtain ample funding. Till tasks attain completion, they don’t ship the dividends of democracy that Nigerians rightly deserve.

Highlights of the 2021 Capital Initiatives

43. Key capital spending allocations within the 2021 Finances embrace:

a. Energy: N198 billion (inclusive of N150 billion for the Energy Sector Restoration Plan);

b. Works and Housing: N404 billion;

c. Transportation: N256 billion;

d. Defence: N121 billion;

e. Agriculture and Rural Improvement: N110 billion;

f. Water Assets: N153 billion;

g. Business, Commerce and Funding: N51 billion;

h. Schooling: N127 billion;

i. Common Primary Schooling Fee: N70 billion;

j. Well being: N132 billion;

okay. Zonal Intervention Initiatives: N100 billion; and

l. Niger Delta Improvement Fee: N64 billion.

44. The Ministry of Agriculture and Rural Improvement will facilitate the built-in growth of its sector by selling crops’ worth chains; in addition to offering rural roads, water and sanitation, veterinary and pest controls, grazing, meals and strategic reserves, and entry to inputs and extension companies.

45. The 157 % enhance within the capital allocation to the well being sector is to reinforce the capability to ship healthcare companies by means of the procurement of apparatus, vaccines and different amenities. Two centres of excellence, in addition to one Accident and Emergency Centre, might be geared up in Federal Educating Hospitals in every geopolitical zone.

46. As well as, quite a few Main Well being Care Centres might be geared up and upgraded throughout the six geopolitical zones. Moreover, funds have been allotted for the growth of Midwives Service Scheme within the six geopolitical zones. To reinforce occupational security, funds have been supplied for the availability of Private Protecting Tools for well being employees.

47. The Ministry of Schooling’s capital allocation has been elevated by 65 % to enhance the training of our youngsters. Funds have been supplied for the availability of scholarship awards to Nigerian college students at house and overseas.

48. We now have supplied funds for the improve of safety and different infrastructural amenities in our Unity Schools nationwide. To enhance entry to training, we’ve got made provision for the institution of 5 new Federal Science and Technical Schools. We now have additionally supplied for the fee of allowances to five,000 lecturers underneath the Federal Lecturers Scheme.

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49. According to our dedication to put money into Transportation Infrastructure, capital allocation to the Works and Housing sector is to facilitate the completion of a number of important tasks in 2021. I’ve directed the Minister of Finance, Finances and Nationwide Planning to supply an in depth breakdown of key infrastructural tasks in her subsequent Press Briefing.

50. Key tasks for implementation within the Energy sector embrace a number of Rural Electrification Initiatives within the 36 States and Abuja, Rural Electrification Entry Programme in Federal Universities, the Kaduna LPFO Fuel Fired energy Plant, the Mambilla Hydro Energy Challenge and the Zungeru Hydropower Challenge.

51. Provisions have been made for legacy money owed owed to native contractors compensation and resettlement of project-affected communities, the Renewable Power Micro Utility (Photo voltaic) challenge, and the development of transmission strains and substations nationwide. These challenge’s implementation is anticipated to have optimistic influence on electrical energy provide nationwide, in addition to enhance productiveness and employment.

52. Initiatives to be carried out by the Ministry of Water Assets in 2021 embrace provision of potable water within the North East, development of irrigation and dams throughout the nation, and the availability of Water, Sanitation and Hygiene amenities.

53. The Ministry of Transportation has earmarked funds for tasks such because the Lagos-Ibadan-Kano Line, Abuja-Kaduna Line, Port-Harcourt-Maiduguri Line and Itakpe-Ajaokuta-Warri Line. These tasks, when accomplished, will decrease the price of transporting folks and items across the nation.

54. To keep up the peace within the Niger Delta area for financial and social actions to thrive, the availability of N65 billion for the Presidential Amnesty Programme has been retained within the 2021 Finances. As well as, the sum of N63.51 billion has been appropriated for the Niger Delta Improvement Fee and N24.27 billion has been supplied for the capital tasks of the Ministry of Niger Delta Affairs. These allocations ought to additional assist the event of the area by facilitating the completion of essential ongoing tasks, such because the East-West Highway.

Authorities Fiscal Technique In 2021

55. The federal government is already implementing a number of measures to beat our fiscal constraints. Along with the Strategic Income Progress Initiatives, we’re leveraging expertise and automation, in addition to more practical monitoring of Independently Generated Revenues. Our efforts are aimed toward addressing income leakages and redirecting scarce assets to the poor and susceptible. These efforts embrace:

a. Deregulation of the worth of petroleum merchandise;

b. Ongoing verification train with IPPIS; and

c. Implementation of service-based electrical energy tariffs.

56. The brand new petrol pricing regime has freed up assets that was allotted to subsidise petroleum merchandise. Equally, the continuing IPPIS verification train has closed gaps that encourage ghost employees or pensioners. The service reflective electrical energy tariffs will assist resolve liquidity disaster within the energy sector and make the sector enticing to overseas funding. These reforms have launched trillions of Naira for allocation to different precedence areas.

57. Distinguished Senators, Honourable Members, allow me to reiterate that the primary thrust of our capital spending programme in 2021 is the completion of as many ongoing tasks as doable throughout the nation. Accordingly, we’ve got prioritized tasks that may be quickly accomplished to learn our folks.

58. Distinguished Senators and Honourable Members, I notice, with satisfaction, your willpower to promptly contemplate and move the Petroleum Business Invoice into regulation. The enactment of this Invoice will enhance confidence and entice additional investments into our oil and fuel sector, in addition to enhance revenues.

59. I totally perceive the difficulties a lot of our persons are going by means of with the implementation of our reform agenda. Nonetheless, the measures we’re implementing are essential for sustainable public finance, higher allocation of our scarce assets and improved public service supply. As we implement these reforms, social security nets might be carried out to cushion the impact of probably the most susceptible of our residents in addition to enterprise homeowners.

60. In furtherance of our inclusiveness agenda, the sum of N420 billion has been supplied to maintain the Social Funding Programme. N20 billion has additionally been put aside for the Household Properties Fund, our Social Housing Programme. We now have expanded our Nationwide Social Register, to incorporate an extra a million Nigerians following the onset of Coronavirus. We not too long ago launched the N75 billion Survival Fund Programme to assist and shield companies from potential vulnerabilities. Moreover, the Central Financial institution of Nigeria is lowering the rate of interest on its intervention amenities from 9% to five% with a 1-year moratorium until 31st March 2021, to supply concessional lending of:

N100 billion to households and small companies;

a. N100 billion to the healthcare and pharmaceutical trade; and

b. N1 trillion to massive agricultural and manufacturing companies.

61. We urge Nigerian companies and people to take advantage of these concessional credit score amenities and different such alternatives.


62. Mr. Senate President, Mr. Speaker, Distinguished and Honourable Members of the ninth Nationwide Meeting; let me use this chance to, once more, commend your agency dedication in direction of making certain a really harmonious and productive relationship with the Government. It is very important additional deepen this relationship within the curiosity of our folks.

63. As you assessment the 2021 Finances estimates, we consider the legislative course of might be expedited to make sure its immediate passage to maintain the restoration of a predictable January – December fiscal yr. On this regard, I’ve directed all Ministers and Heads of Companies to be personally out there for price range defence.

64. Let me re-emphasize that Nigerians anticipate that the 2021 Finances will comprise solely implementable and important tasks, which when accomplished, will considerably deal with present structural challenges of the economic system, enhance the enterprise setting and speed up financial restoration.

65. Could I conclude my remarks by commending the Nationwide Meeting for its assist in steering our economic system throughout these very difficult occasions. We stay dedicated to sustaining this partnership. We consider that as we work collectively, we are going to collectively ship on our joint mandate to our folks.

66. It’s with nice pleasure, subsequently, that I lay, earlier than this Distinguished Joint Session of the Nationwide Meeting, the 2021 Finances Proposals of the Federal Authorities of Nigeria, in your consideration.

67. I thanks in your consideration.

68. Could God proceed to bless the Federal Republic of Nigeria.

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