The House of Representatives has raised the 2020 Appropriation Bill from N10.33 trillion to about N10.6 trillion.
The committee has recommended a total budget sum of N10,594,362,364,830.
President Muhammadu Buhari had on October 8, 2019, presented the appropriation bill to a joint session of the National Assembly.
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Both the executive and the legislature plan to pass the bill before Christmas break to return Nigeria to a January-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.
Frontpage December 30, 2019