The Senate on Thursday passed the revised 2020 budget of N10.505 trillion for second reading.
Moving the motion for the budget to be read a second time, House leader Yahaya Abdullahi said that N398.505 billion is for Statutory Transfers while N2.951 trillion is for Debt Service.
N4.928 trillion is budgeted for Recurrent (Non-Debt) Expenditure while the sum of N2.230 trillion is for contribution to the Development Fund for Capital Expenditure for the year ending on 31 December, 2020.
President of the Senate, Ahmad Lawan referred the document to the committees on Finance, Appropriations and Foreign and Local Debt for further legislative work and to report back next Tuesday.
A Bill for an Act to amend the Appropriations Act 2020 for the implementation of N10, 509,654,033.054 of which Statutory Transfers: N398, 505,979,362, Debt Service: N2,951,710,000,000, Recurrent Expenditure: N4, 928,525,467,849 and…— The Nigerian Senate (@NGRSenate) May 28, 2020