Nigerian Senate Passes 2020 Budget

he Nigerian Senate has passed the 2020 Budget of N10.59 trillion Naira as against the N10.33 trillion naira presented by President Muhammadu Buhari to the joint session of the National Assembly on October 8, 2019. This followed the adoption of the report of Senate Committee on Appropriation at Thursday’s plenary. Presenting the report, Senator Barau Jibrin said the increased of N260bn is to aid interventions in critical areas such as national security, road infrastructure mines and steel development, health among others. Senator Jubrin said the Statutory Transfer stood at N560.5bn, Recurrent Expenditure-N4.8bn, Capital Expenditure-N2.5bn, Debt Servicing-N2.7bn, Fiscal Deficit-N2.3trn and Deficit to GDP of 1.52 per cent.

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