The Senate and the House of Representatives 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, Leaders of both Chambers, Senator Yahaya Abdullahi, and Rep. Ado Doguwa said that N398.505 billion is for Statutory Transfers while N2.951 trillion is for Debt Service.
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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.
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The document has been referred to the relevant committees of the two chambers for further legislative work and to report back next Tuesday.
Details shortly,,,
