Like Reps, Senate passes N10.8trn revised 2020 budget | Ripples Nigeria
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Like Reps, Senate passes N10.8trn revised 2020 budget

The Nigerian Senate on Thursday approved and passed the revised 2020 budget of N10.8 trillion.

The House of Representatives had also a day earlier approved and passed the exact amount.

The lawmakers passed the budget at both the Senate plenary and at the Committee of Supplies after considering the report of its Committee on Appropriation, led by Senator Barau Jibri.

Read also: Bill to punish anyone who stigmatizes rape victim scales second reading at Senate

The executive arm had presented a revised budget of N10.5 trillion but the lawmakers added about N300 billion, bringing it up to N10.8 trillion.

Some of the details of the budget showed that the sum of N500 billion was passed in the budget as an intervention fund for COVID-19 and N186 billion for the health sector.

Also, the sum of N422 billion was for statutory transfers while N4.9 trillion was for recurrent expenditure.

While N2.4 trillion was for capital expenditure, debt servicing will gulp N2.9 trillion.

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