Wednesday , January 20 2021
Breaking News
Home / News / BREAKING: Senate Passes 2020 Revised Budget

BREAKING: Senate Passes 2020 Revised Budget

The  Senate has passed the revised 2020 budget of N10,805,544,664,642.

The budget was passed at the plenary on Thursday after the chairman of the appropriation committee, Jibrin Barau presented a report.

The budget was initially passed in December but it came back to the national assembly after the executive reworked it to reflect the current economic realities taking into account the slump in oil prices and the effect of COVID-19 pandemic.

A breakdown of the figure shows that the sum of N2,488,789,433,344 is for capital expenditure and recurrent non-debt expenditure has N4,942,269,241,984.

The executive also allocated N422,775,979,362 for statutory transfer, while N2,951,710,000,000 was budgeted for debt service.



Check Also

Joe Biden Sworn In As 46th US President

Joe Biden was on Wednesday sworn in as the 46th President of the United States …

Buhari Raises Teachers Retirement From 60 to 65 Years

The Federal Executive Council (FEC) has approved new retirement age for teachers in the country …

Social Media Auto Publish Powered By :