The Federal Government has revealed plans to sell public-owned properties in order to fund the 2021 budget.
This is in addition to plans to engage in domestic and foreign borrowings to fund the budget. Asides these, non-oil assets would be sold as well to serve as an additional source of finance for the year’s budget.
This is contained in a document presented in Abuja by the Minister of Finance, Zainab Ahmed, to stakeholders about the signed 2021 budget.
The document titled, ‘Public Presentation of 2021 FGN Approved Budget Breakdown and Highlights’, which seeks to sell and concession government-owned properties and non-oil assets, is dated January 12.
The presentation reads: “President Muhammadu Buhari had on December 31, 2020, signed the N13.58 trillion budget for the 2021 fiscal year – about N505 billion higher than the budget proposed in October 2020.
“In the approved budget, about N496.5 billion was approved for statutory transfers and N3.3 trillion was approved for debt services.
“The recurrent expenditure was put at N5.6 trillion with capital expenditure at N4.1 trillion and fiscal deficit at N5.2 trillion (5,196,007,992,292)”.
Already, many have criticized the federal government’s consistent borrowing to fund budgets yearly. For 2021, the government is to borrow N5.6 trillion from domestic and foreign resources.
