Senate Passes N10.805trn Reviewed 2020 Budget

The Senate has passed the N10.8trn  reviewed 2020 appropriation bill earlier passed by the House of Assembly.

The budget was passed at both the Senate plenary and at the Committee of Supplies following the consideration of the report of the Senator Barau Jibril led Committee on Appropriation.

The Senate increased the budget size of N10.5trn presented to it by the executive by about N300bn.

N500 billion was passed in the budget as an intervention fund for COVID-19, while N186 billion was earmarked for the health sector.

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

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