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President Muhammadu Buhari on Thursday presented a record 13 trillion-naira budget for 2021 to members of the National Assembly.

Details show the spending plan is about 21% rise from the revised 2020 spending plan of 10.8 trillion naira.

According to Buhari, the budget also assumes crude production of 1.86 million barrels a day and an oil price of $40 per barrel with the exchange rate at N379 to $1.

In the 2021 budget, the ministry of health gets N380.21b while N3.8 trillion has been allocated to all ministries departments and agencies for the execution of capital projects.

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 The National Assembly also gets N128 billion in the 2021 budget presented by Buhari.

Other key capital spending allocations in the 2021 budget include

a. Power – N198 billion (inclusive of N150 billion for the Power Sector Recovery Plan).

b. Works and Housing – N404 billion.

c. Transportation – N256 billion.

d. Defence – N121 billion.

e. Agriculture and Rural Development – N110 billion.

f. Water Resources – N153 billion.

g. Industry, Trade and Investment – N51 billion.

h. Education – N127 billion.

i. Universal Basic Education Commission – N70 billion.

j. Health – N132 billion.

k. Zonal Intervention Projects – N100 billion.

l. Niger Delta Development Commission – N64 billion.

The lawmakers are expected to receive the finance bill which will contain details of the budget for consideration and passage.

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