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Tag Archives: 2020 Budget

July, 2020

  • 13 July

    Why 2020 Revised Budget Was Increased Despite Revenue Drop – Presidency

    The Presidency has explained that the 2020 revised budget was increased to N10.8 trillion the need to tailor funds to address critical infrastructure gap and the consequences of the novel coronavirus (COVID-19) pandemic on the economy. Umar El-Yakub, Senior Special Assistant to the President on National Assembly Matters (House of …

  • 10 July

    Buhari Signs Revised 2020 Budget Into Law

    President Muhammadu Buhari has signed the revised budget of N10.8 trillion for the year 2020 into law. He assented to the budget at the Council Chambers of the Presidential Villa in Abuja, the nation’s capital, at about 11:06am on Friday. President Buhari explained that the budget had to be revised …

June, 2020

  • 11 June

    Senate Passes N10.85trn Revised 2020 Budget

    The Senate on Thursday passed the revised 2020 budget. Read Also: Edo Is Ours, Says PDP’s Fintiri The new budget was put at N10.8 trillion, a N300 billion increase from the initial approved amount of N10.5 trillion. Members of the upper legislative chamber passed the budget during plenary on Thursday, a …

  • 10 June

    Reps Pass Revised 2020 Budget

    Reps-budget-SGF

    The House of Representatives on Wednesday passed the revised 2020 Appropriation Act. Read Also: INEC Warns It Won’t Declare Any Winner If Edo, Ondo Guber Polls Are Disrupted The new budget was put at N10.8 trillion, a N300 billion increase from the initial approved amount of N10.5 trillion. The budget was …

  • 4 June

    National Assembly Got N9.2bn, Not N27bn, For Renovation – Budget Office

    The Budget Office has weighed in on the controversy surrounding the funds approved for the renovation of the National Assembly, saying the federal legislative arm got N9.25 billion and not N27 billion as reported in the media. Read Also: Alcohol Made Me Do It, Says Man After Raping 70-year-old Woman Ben …

May, 2020

  • 28 May

    Buhari Asks NASS To Approve $5.5bn Loan For Revised 2020 Budget, COVID-19

    President Muhammadu Buhari has requested that the National Assembly approve a $5.513 billion loan seemed by the Federal Government. This was made known in a letter read by Femi Gbajabiamila, Speaker of the House of Representatives, at the plenary session on Thursday. According to the president’s letter, the loan will …

  • 14 May

    FG Revises 2020 Budget, Drops Oil Price Benchmark To $25

    The Federal Executive Council (FEC) on Wednesday approved the revised Medium Term Expenditure Framework and the 2020 budget. Read Also: NCDC Confirms 184 New COVID-19 Cases As Nigeria’s Toll Rises To 4,971 The revised budget was increased from N10.276 trillion to N10.523 trillion, representing an increment by N318 billion. However, the …

April, 2020

  • 28 April

    Senate Resumes Plenary, Approves Buhari’s N850bn Loan Request

    The Senate has approved the N850 billion loan requested by President Muhammadu Buhari to fund some projects in the 2020 budget. Read Also: Security Agents Responsible For Rising COVID-19 Cases In Ondo – Akeredolu The request was approved by lawmakers at the resumption of plenary on Tuesday, five weeks after …

March, 2020

  • 5 March

    Coronavirus: FG Likely To Review 2020 Budget – Zainab Ahmed

    Paris Club Refund: Expert Urges Nigerians To Check States’ Misuse Of Funds

    Zainab Ahmed, minister of finance, has said that the economic impact of coronavirus may force the federal government to review the approved 2020 budget. On December 5, 2019, the 2020 budget of N10.59 trillion was passed by the national assembly and signed into law by President Muhammadu Buhari on December …

January, 2020

  • 18 January

    FG To Borrow N1.59trn To Fund 2020 Budget

    Nigeria’s Debt Management Office (DMO), has disclosed that the federal government will borrow N1.549 trillion from domestic and international markets to fund the 2020 budget. Patience Oniha, Director-General of the DMO, on Friday, told journalists that N805 billion will be borrowed externally, while N744 billion will be borrowed from the …

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