The Senate on Thursday passed N10.594 trillion as the 2020 budget as against the N10.33 trillion proposed by President Muhammadu Buhari to the joint session of the National Assembly on October 8, 2019.
Breaking: Senate passes 2020 budget of N10.594 trillion
According to reports, the Senate effected an increase of N264billion on the Budget.
The decision followed the consideration and adoption of the budget report of Senate Committee on Appropriation chaired by Senator Jibrin Barau.
Senator Barau Jibrin, said the increase of N264 billion into the budget allowed for interventions in critical areas such as national security, road infrastructure mines and steel development, health among others.
According to him, statutory transfer stood at N560.5 billion, Recurrent Expenditure at N4.8 billion, Capital Expenditure at N2.5 billion, Debt Servicing at N2.7 billion, Fiscal Deficit at N2.3 trillion and Deficit to GDP of 1.52 per cent.
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