Senate passes revised 2020 budget of N10.805 trillion

The Nigerian senate has passed the revised 2020 budget of N10.805trillion.

The budget was passed at Plenary after the red Chamber received and Considered the report of its Appropriations Committee.

This development comes a day after the house of representatives passed the same figure , with an increase of about N300 billion.

A lump sum of N500 billion was added to the budget as an intervention fund for COVID-19 of which N186 billion was earmarked for the health sector.

In the revised budget, N422 billion is fixed for statutory transfers, N4.9 trillion for recurrent expenditure and N2.4 trillion is for capital expenditure.

The sum of N2.9 trillion is also earmarked for debt servicing.

leave a reply