Overview

The document is the 2021 Budget Speech of Nigeria, delivered by President Muhammadu Buhari on October 8, 2020. It outlines the economic challenges due to the COVID-19 pandemic, including a GDP decline of 6.1% in Q2 2020 and a projected recession. The budget, themed 'Budget of Economic Recovery and Resilience,' aims to lift 100 million Nigerians out of poverty over 10 years. Key initiatives include the Special Public Works programme for 774,000 youths and the N75 billion Nigeria Youth Investment Fund. The speech details the revised 2020 budget with assumptions of $28/barrel oil price, 1.80 million barrels per day production, and an exchange rate of N305/$1. The government seeks early passage of the 2021 Appropriation Bill by the National Assembly.

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