Reps raise 2020 budget from from N10.33 to N10.6tn

The committee’s recommendations were contained in a report presented by its Chairman, Muktar Betara on Wednesday, December 4, 2019, during plenary session.

President Muhammadu Buhari had on October 8, 2019, presented a budget proposal of N10.33 trillion to a joint session of the national assembly.

Following the presentation of the budget, the lawmakers commenced work on the proposal but reportedly postponed the passage to December after the relevant committees’ inability to present their reports as scheduled, The Cable reports.

Below is the breakdown of the new budget, as proposed by the House Committee on Appropriations.

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, Punch reports.

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