The Nigerian Senate has approved ten point eight trillion as revised 2020 Budget of the Federal Government. The Senate passed the budget during plenary earlier today; a day after the House of Representatives did same.
The revised budget provides two point four-eight trillion naira for capital expenditure. Recurrent expenditure is put at four-point nine trillion naira, while the sum of two point nine trillion naira is for servicing of government debt.
The passage of the revised budget by the Senate came a day after the House of Representatives did same on Wednesday, June 10, 2020.
Before passing the revised budget, the House increased the figure from ten point five trillion naira proposed by the Executive.
The approved financial estimate is also four billion naira higher that what the Committees on Appropriations and Finance had approved.
The lawmakers agreed that the additional fund would help to take care of the demands by the National Association of Resident Doctors so that they will not go on strike.
The Lower chamber of the National Assembly also approved the request by President MUHAMMADU BUHARI to take a loan of over five point five billion Dollars.
