2020 Revised Budget: Reps Pass N10.8tn, Approve Buhari’s $5.5bn External Loan

The House of Representatives have passed N10.8 trillion as the 2020 revised budget thus increasing the national budget from the proposed N10.5tn that was sent by President Muhammadu Buhari.

The approved budget shows that the allocation for the National Assembly was retained at N128 billion as contained in the original 2020 budget passed in December 2019 as against the N115 billion proposed in the revised budget.

Considering the budget on the floor of the House, the lawmakers included N4 billion vote to address the greviances of Resident Doctors who are threatening to embark on industrial action, thereby increasing the figure submitted to the House by the Finance Committee.

The House also approved the request by the President for the Federal Government to obtain external loans totalling $5,513,000000.