NASS approves N10.805trn revised 2020 budget
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NASS approves N10.805trn revised 2020 budget

- The Senate has passed the revised 2020 national budget

- The budget was passed by the Senate during its plenary on Thursday, June 11

- This came after the approval of the House of Representatives on Wednesday, June 10

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The N10.805,544,664,642 revised budget for 2020 which was approved on Wednesday, June 10, has been passed by the upper chamber of the nation's National Assembly.

The Senate passed the reviewed budget during its plenary held on Thursday, June 11, Channels TV reports.

A breakdown of the new budget is as follows: capital expenditure - N2,488,789,433,344, recurrent non-debt expenditure - N4,942,269,241,984.

Also, while the sum of N422,775,979,362 was allocated to the executive arm of the federal government for statutory transfer, debt serving gets N2,951,710,000,000.

Earlier, Legit.ng reported that the National Assembly had put its holiday on hold in order to reconvene and consider the 2020 revised budget on Thursday, May 28.

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The development was contained in a memo dated Tuesday, May 26, addressed to members of the two chambers by Mohammed Sani-Omolori, the NASS clerk.

NASS approves N10.805trn revised 2020 budget

The Senate passed the reviewed budget during its plenary held on Thursday, June 11.
Source: Twitter

The 2020 appropriation bill had successfully scaled through the legislative hurdle but an outbreak of coronavirus necessitated the move to review the budget as the country faces the economic reality of the scourge.

Nigeria at the time had 8,344 cases of coronavirus, 2385 recoveries and 249 deaths after the Nigeria Centre for Disease Control (NCDC) announced new cases.

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With the government cutting down its budget amid pandemic, the lawmakers began warming up for a return into the chamber to reconsider the reviewed budget.

The lawmakers' return was earlier scheduled for Tuesday, June 2, but collective concentrated efforts by government across tiers will see the NASS complex reopen two days after the Eid-Fitr public holiday.

Nigerian Senate receives revised 2020 budget of N10.52 trillion

The federal government had in April bit down the 2020 budget by over N320 billion and proposed a new budget of about N10.3 trillion against the N10.6 trillion previously passed NASS.

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Source: Legit

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