Home Business Nigerian Senate passes 2020 Budget after eight weeks

Nigerian Senate passes 2020 Budget after eight weeks

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The Senate on Thursday passed the 2020 budget eight weeks after it was presented to the Joint Session of the National Assembly by President Muhammadu Buhari.
The budget passed by the Senate, was, however, jerked to N10.594 trillion, an increase of N264 billion.
Buhari had submitted a budget of N10.330 trillion to the Joint Session of the National Assembly.
Presenting the budget, the Chairman, Senate Committee on Appropriation, Senator Jubril Barau, said the Committee worked harmoniously with Executive arm of government in the processing of the budget.
Barau explained that the increase allowed for interventions in critical areas such as National Security, Road Infrastructure, Mines and Steel Development, Health, Social needs and water among others.
He also added that the Committee worked harmoniously with the House of Representatives Committee on Appropriation.
According to him, the National Assembly jerked up the benchmark from $55 per barrel of oil to $57 per barrel oil at the exchange rate of N305/$1.

Source: Read The Original Article on Eaglesonline

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