Finally, senate receives 2020 budget report
A report on the 2020 appropriation bill has been laid in the upper legislative chamber.
The report was laid after Jibrin Barau, chairman of the senate appropriations committee, moved a motion to that effect on Wednesday.
Senate President Ahmad Lawan said copies of the bill will be made available to the lawmakers before it is finally passed.
The budget report was scheduled to be submitted last week, but Barau said it was not ready at the time.
On October 8, President Muhammadu Buhari presented a budget proposal of N10.33 trillion to a joint session of the national assembly. The the lawmakers commenced work on it the next day.
The bill passed second reading on October 15, and various ministries, departments and agencies (MDAs) of government appeared before different committees of the national assembly to defend their budget proposals.
The lawmakers approved N10.73 trillion as the federal government’s total estimated expenditure for 2020, after considering the 2020-2020 medium-term expenditure framework (MTEF) report submitted by Buhari.
They adopted 2.18 million barrels as daily production output in 2020 and approved $57/barrel as crude oil benchmark price for the fiscal year 2020.
The senate president said the bill will be passed before the Christmas holidays.
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