2020: Reps Raise Budget to N10.6tr


 

The House of Representatives on Wednesday raised the 2020 Appropriation Bill from N10.33 trillion to about N10.6 trillion.

The new figure was proposed by the House Committee on Appropriation, which is scheduled to lay its report on the national budget at the plenary.

The committee recommended a total budget sum of N10,594,362,364,830.

President Muhammadu Buhari had on October 8, 2019, presented the appropriation bill to a joint session of the National Assembly.

Both the executive and the legislature plan to pass the bill before Christmas break to return Nigeria to a January-December budget cycle.

The new budget breakdown, as proposed by the House Committee on Appropriations, is as follows:

Total sum: N10,594,362,364,830
N560,470,827,235 for Statutory Transfers
N2,725,498,930,000 for Debt Service
N4,842,974,600,640 for Recurrent (Non-Debt) Expenditure
N2,465,418,006,955 for contribution to the Development Fund for Capital Expenditure
The committee also recommended that the current 2019 budget terminates on December 31, 2020.
Previous Atiku Sues Laureta Onochie For Libel, Demands N2.5b in Damages
Next US Election 2020: Trump’s Rival Withdraws from Presidential Race

No Comment

Leave a reply

Your email address will not be published. Required fields are marked *