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Reps Raise 2020 Budget To N10.6trn

The House of Representatives has increased the 2020 Appropriation Bill to N10.6 trillion.

The new figure was proposed by the House Committee on Finance, which will lay its report at the plenary today. The executive and legislature are reportedly planning to pass the budget before the end of the year break to return Nigeria to a January to December budget cycle.

The new budget breakdown, as proposed by the House Committee on Appropriations, is as follows:

Total sum: N10,594,362,364,830
N560,470,827,235 for Statutory Transfers
N2,725,498,930,000 for Debt Service
N4,842,974,600,640 for Recurrent (Non-Debt) Expenditure
N2,465,418,006,955 for contribution to the Development Fund for Capital Expenditure
The committee also recommended that the current 2019 budget terminates on December 31, 2020.

About Ademola Aderele

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