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Presidency: Why 2020 revised budget is higher than the original

Presidency: Why 2020 revised budget is higher than the original
July 13
08:19 2020
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Umar El-Yakub, a presidential aide, says the presidency decided to increase the 2020 budget despite a drop in revenue to mitigate the impact of the COVID-19 pandemic on the economy.

El-Yakub, who is the senior special assistant to the president on national assembly matters (house of representatives), told state house correspondents that the increase is due to the federal government’s decision to prioritise infrastructure projects that would reflate the economy.

President Muhammadu Buhari signed the revised N10.81 trillion 2020 budget into law on Friday. The revised budget N216 billion from the previously approved N10.594 trillion.

“One needs to understand that the essence of the review is to prioritise government projects that will address infrastructure and ginger the economy more as well as address health issues,” DailyTrust quoted El-Yakub to have said.

“Because of the pandemic, investments are made in those regards and certainly you know that there are palliatives that had been initiated by the federal government in the phases of implementation.

“All those necessitated this new look at the budget so as to free certain amounts of money hitherto appropriated for certain projects which in the circumstances are not as expedient to prioritise.

“We looked at other infrastructure that needs prioritisation so as to address the pandemic and the difficulties that it has brought to the lives of Nigerians.”

The presidential aide said the cordial relationship that currently exists between the executive and legislative arms of government is based on mutual understanding, respect and partnership in nation-building.

El-Yakub said the national assembly is “rising to the expectations of Nigerians” by partnering with the executive to deliver on services.

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