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Covid-19 forces Nigerian govt to cut 2020 budget

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Finance Minister allays fear over gov borrowings, says N25.7tr debt not worrisome

The Nigerian government Wednesday reviewed its proposed capital spending for 2020 downward by N312 billion.

The cut in the capital projects figure of the 2020 budget was necessitated by fall in revenue and oil prices following the outbreak of the coronavirus pandemic.

The national assembly and the judiciary will decide the reductions to be made to their allocations.

More details shortly…

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