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2020 BUDGET: Buhari heads to National Assembly Tuesday

2020 BUDGET: Revenue from increased VAT to be invested in health, education - Presidency

President Muhammadu Buhari will on Tuesday present the 2020 Appropriation Bill to a joint session of the National Assembly (NASS).

The Special Adviser to the President on Media and Publicity, Femi Adesina, made this known at the end of an extraordinary meeting of the Federal Executive Council (FEC).

The meeting, which considered the 2020 budget proposals before its presentation to the National Assembly on Tuesday by 1.30pm, was presided over by President Buhari at the Council Chamber of the Presidential Villa, Abuja, on Monday.

“No briefing, we only looked at what we will present at the National Assembly tomorrow”, referring to Tuesday’s presentation of the 2020 budget proposal to the NASS by President Buhari,” Adesina said.

READ ALSO: Buhari says few individuals keeping bulk of Nigeria’s wealth

Buhari is expected to lay the 2020 budget before a joint session of the Senate and House of Representatives on Oct. 8 for approval, “as the country intends to revert to the January to December budget cycle.”

The early presentation of the 2020 budget is meant to return the Federal Government budget cycle from May-June to January-December.

Recall that Senate had on Thursday increased the proposed 2020 budget from N10.007 trillion to N10.729 trillion.

However, President Buhari and the leadership of the National Assembly had on Sunday night met behind closed doors at the president’s official residence in Abuja in what appeared to be 2020 budget reconciliation meeting.

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