The 2021 Appropriation Bill has passed second reading in the House of Representatives, following the conclusion of debate on its general principles.
During the debate on Wednesday, several members commended and condemned various proposals in the bill.
A member, Nicholas Ossai, described the bill as “a budget of hardship” and not ‘A Budget of Economic Recovery and Resilience’ as the President Muhammadu Buhari administration named it.
“We are servicing debt in the 2020 budget with almost N3.5 trillion and the 2021 budget with about N4.2 trillion. Is that a budget of recovery or hardship?” he said.
“We are servicing debt in the 2020 budget with almost N3.5 trillion and the 2021 budget with about N4.2 trillion. Is that a budget of recovery or hardship?” he said.
“A lot of people have described this appropriation bill as a bill of recovery and the future. But to me, after X-raying the document, including the projected revenue and the money that has been budgeted for, I see it as a budget of hardship; a budget of hardship because the projected revenue is N7.8 trillion while the actual budget estimate is N13.08 trillion. If you minus that, we are having a deficit of almost 50 per cent.”
The Speaker, Femi Gbajabiamila, after the second reading, transmitted the money bill to the House Committee on Appropriations, with the standing committees of the House serving as sub-committees.
