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Budget of Economic Recovery and Resilience: About The 2021 Budget

Nigeria’s President, Muhammadu Buhari on the 8th of October submitted the 2021 budget tagged the budget of “Economic Recovery and Resilience to the National Assembly”. The budget is 27% higher than the 2020 budget which was reviewed to N10.3trn as a result of the harsh economic realities of the COVID-19 pandemic. With oil revenues still being Nigeria’s highest expectation, the oil prices are important to the workings and performance of the budget. The 2021 Fiscal year has many assumptions with the benchmark oil price set at $40/barrel in realities with the current oil prices.