National Assembly receives revised 2020 budget - 9japarrot


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Thursday 28 May 2020

National Assembly receives revised 2020 budget

The National Assembly has received the revised 2020 budget of N10.52 trillion.

The budget was cut initially to N10.276 trillion as a result of  the global emergency  of Covid 19 that resulted in the fall of global oil prices.

But after oil prices began to rise ,the federal executive council increased the budget to N10.52 trillion, an increase of N318 billion.

     Meanwhile, The National Assembly has also received a fresh loan request of $5.513billion from President Buhari which will contribute to finance the revised 2020 Budget, fund priority Federal government projects and state government supports.

President Muhammadu  Buhari intends to seek the 5.5billion loan from; International Monetary Fund, $3.4billon; World Bank, $1.5 billion ; African development bank, $ 500 million and Islamic development Bank, $113 billion .

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