The Nigerian Senate has raised the initial 2020 Budget of #10.33 trillion presented on October 8, to #10.594 trillion and passed it into law. The official 2020 budget is now #10.594 trillion as approved and passed into law by the Ahmed Lawan led 9th National Assembly.
Budget 2020 breakdown;
#560.46 billion for statutory transfers, #4.842 trillion for recurrent expenditures, #2.465 trillion for capital expenditures, #2.725 trillion for debt servicing, #2.28 trillion for fiscal deficit and Gross Domestic Product(GDP).
Approving the 2020 Budget, Ahmed Lawan, Senate President thanked the committee on Appropriation led by Jibrin Barau for a work well done.