Buhari to present N10.73trn budget for 2020

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President Muhammadu Buhari will on Tuesday present an appropriation bill of N10.729 trillion for the 2020 fiscal year.

He will present appropriation bill before a joint session of the National Assembly in Abuja on October 8, 2019.

The extraordinary Federal Executive Council (FEC), presided over by President Buhari approved the adjustments made by the National Assembly to the Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF-SP) which reviewed upward the earlier N9.12 trillion estimates.

The bill was to be approved by FEC presented on October 5, 2019 but it the meeting of FEC was shifted to October 7, 2019 because of Buhari’s South African trip.

The National Assembly increased the (oil) benchmark to $57 per barrel, adding $2 to take care of recruitment in the security agencies and also to attend to critical areas.