By Olivia Isibor (AGENDAWATCHDOG) – According to a statement released via the Presidency’s twitter handle, on Thursday evening, President Muhammadu Buhari will sign the reviewed 2020 budget into law today, consequent its passage by the National Assembly.
!n April, the Federal Government had cut down the 2020 budget by over N320 billion and proposed a new budget of N10.27 trillion against the N10.59 trillion passed by the National Assembly.
According to the tweet: “President Buhari will tomorrow, Friday July 10, 2020, sign into law the revised 2020 budget passed by the National Assembly last month”.
Both the Senate and House of Representatives had respectively passed the revised 2020 of N10,805,544,664,642, a breakdown which indicates that the sum of N2,488,789,433,344 is allotted to capital expenditure, while recurrent non-debt expenditure has N4,942,269,241,984, with allocation of N422,775,979,362 for statutory transfer, while N2,951,710,000,000 for debt servicing.
The passage of the revised figure was issued from the Consolidated Revenue Fund, consequent to the consideration of the report of the Senate Committee on Appropriations on the Appropriation Act (Amendment) Bill, 2020.