Overview

The document is a public presentation of the 2021 Federal Government of Nigeria (FGN) Approved Budget, delivered by Mrs. Zainab Shamsuna Ahmed, the Honorable Minister of Finance, Budget & National Planning, on January 12, 2020. The presentation outlines the budget breakdown and highlights, covering introduction and background, overview of 2020 fiscal outcomes and budget implementation, global outlook and domestic developments, macroeconomic assumptions, revenue and expenditure details, deficit financing, strategic revenue growth initiatives, and selected projects. The 2021 budget is titled 'Budget of Economic Recovery and Resilience' and aims to accelerate economic recovery, promote social inclusion, and strengthen economic resilience. The Finance Act 2020, signed into law on December 31, 2020, supports the budget and includes over 80 changes to 14 laws, such as the Companies Income Tax Act, Value Added Tax Act, and Public Procurement Act. Key reforms include counter-cyclical fiscal policies in response to COVID-19, fiscal relief for taxpayers, reforms for job creation, and coordination of monetary, trade, and fiscal policies.

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