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Nairaland Forum / Nairaland / General / Politics / Nigerian Senate Increases And Passes 2020 Budget (16847 Views)
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Nigerian Senate Increases And Passes 2020 Budget by supremenews: 3:29pm On Dec 05, 2019 |
The Senate has passed the 2020 appropriation bill. The passage was a sequel to the presentation of a report by the chairman of the Senate Committee on Appropriation, Barau Jibrin. The budget was increased from N10.33 trillion presented by President Buhari on October 8 to N10.6 trillion (10,594,362,364,830). In the report presented by Jibrin, N560.47 billion is for statutory transfers (a category into which the National Assembly budget falls). While the Senate maintained Nigeria’s daily oil production rate at 2.18 million per barrel, it, however, increased the Oil Benchmark Price to $57 per barrel against the $55 proposed by the Executive. The committee retained the inflation rate at 10.81 per cent and the exchange rate at N305-$1 as proposed by the executive. It also retained GDP Growth Rate at 2.93 per cent as proposed. Jibrin said the committee worked harmoniously with the Executive for the processing of the bill. The Senate passed the budget with the breakdown as follows: Jibrin explained that the increase allows for intervention in critical areas like security, infrastructure, mines and steel development, social development, among others. This, he said, is in line with the budget thrust of the government “which is focused on growing development and sustainable growth.” He also said the committee adopted the 2020-2022 Medium Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP) as approved by the National Assembly. This is as he urged his colleagues to adopt the recommendations of the committee. The Senate President, Ahmad Lawan, thanked his colleagues and the Executive for the cooperation, He also admonished the Executive to ensure the full and effective implementation of the budget of the budget. He said the ninth Senate has achieved one of its key promises to return the budget cycle to January – December. We have done so much in a short while; we have given the Executive everything they need – budget, finance bill, MTEF, among others, he said. Mr Lawan said the Senate will interact with Ministries, Departments and Agencies on a quarterly basis in 2020 to monitor implementation of the budget. “We hope that with this budget passed, the Executive will ensure full implementation for the benefit of all Nigerians,” he said. https://www.premiumtimesng.com/news/headlines/366724-senate-increases-passes-2020-budget.html 6 Likes 1 Share
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Re: Nigerian Senate Increases And Passes 2020 Budget by shiwex: 3:47pm On Dec 05, 2019 |
Niger is a broke ass country.....ABUJA, Dec 5 (Reuters) - Nigeria's Senate on Thursday passed a record 10.59 trillion naira ($34.72 billion) budget for 2020,) $35b dollars for 200m people while uk will spend £134b for health service of 70million people. We don die in Niger NHS England -134 billion GBP 2019 Total Public Spending in the United Kingdom Central Government and Local Authority -5yr -1yr Fiscal Year 2020 Public Pensions £161 billion National Health Care + £162 billion State Education + £92 billion Defence + £50 billion Social Security + £126 billion State Protection + £33 billion Transport + £35 billion General Government + £17 billion Other Public Services + £118 billion Public Sector Interest + £52 billion Total Spending = £848 billion 24 Likes 6 Shares |
Re: Nigerian Senate Increases And Passes 2020 Budget by helinues: 3:48pm On Dec 05, 2019 |
Good to know Hope no budget padding this time around |
Re: Nigerian Senate Increases And Passes 2020 Budget by Horus(m): 3:49pm On Dec 05, 2019 |
Re: Nigerian Senate Increases And Passes 2020 Budget by GOFRONT(m): 4:00pm On Dec 05, 2019 |
See yams |
Re: Nigerian Senate Increases And Passes 2020 Budget by ForeThinker: 4:00pm On Dec 05, 2019 |
Oya noww .... |
Re: Nigerian Senate Increases And Passes 2020 Budget by Nobody: 4:00pm On Dec 05, 2019 |
Kai, 30billion dollars.where the money dey go self? Buhari and aso rock will carry like 20 percent of the budget. it will be like: Transport fee =3 billion naira , buhari newspaper=2billion buhari and osinbajo shoe=500million, aso rock spoon=1 billoin, etc ![]() 15 Likes |
Re: Nigerian Senate Increases And Passes 2020 Budget by Holuwaseun187: 4:01pm On Dec 05, 2019 |
Audio budget 1 Like 1 Share |
Re: Nigerian Senate Increases And Passes 2020 Budget by Brandstudio01: 4:01pm On Dec 05, 2019 |
For some, their Christmas starts today. In the midst of the economic meltdown 2 Likes |
Re: Nigerian Senate Increases And Passes 2020 Budget by Conceptman: 4:01pm On Dec 05, 2019 |
Some people Are already adding more money to the ones they had. Politics sweet in Nigeria gan |
Re: Nigerian Senate Increases And Passes 2020 Budget by BlackfireX: 4:01pm On Dec 05, 2019 |
If only there is a law , to kill corrupt politicians 1 Like 1 Share |
Re: Nigerian Senate Increases And Passes 2020 Budget by netpro(m): 4:02pm On Dec 05, 2019 |
Next level locked and loaded. Nigeria will be great. 5 Likes 1 Share |
Re: Nigerian Senate Increases And Passes 2020 Budget by 7pages(m): 4:03pm On Dec 05, 2019 |
mumu people. always quick to increase audio budget that had no relevance In the common lives of average Nigerians lord I won't question you why you created me in this continent but it pained me a lot 5 Likes |
Re: Nigerian Senate Increases And Passes 2020 Budget by urahara(m): 4:03pm On Dec 05, 2019 |
Okay , nothing to see here people. Just the capital expenditure being half of salaries and overhead just like every other year in Nigeria. |
Re: Nigerian Senate Increases And Passes 2020 Budget by Kingrefreshed: 4:03pm On Dec 05, 2019 |
supremenews: That's the only thing they know how to to. Congrats to some of them who padded the budget in one way or the other. Una money don officially long. Sai baba for all of una! |
Re: Nigerian Senate Increases And Passes 2020 Budget by Sniperwallace07(m): 4:04pm On Dec 05, 2019 |
What a country we live in. 1 Like |
Re: Nigerian Senate Increases And Passes 2020 Budget by 02Kebreal(m): 4:04pm On Dec 05, 2019 |
Okay! |
Re: Nigerian Senate Increases And Passes 2020 Budget by zibya: 4:05pm On Dec 05, 2019 |
Buhari should just veto it |
Re: Nigerian Senate Increases And Passes 2020 Budget by Monaco2(m): 4:05pm On Dec 05, 2019 |
They will never say no to money |
Re: Nigerian Senate Increases And Passes 2020 Budget by Walehelt(m): 4:06pm On Dec 05, 2019 |
. 2 Likes
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Re: Nigerian Senate Increases And Passes 2020 Budget by zibya: 4:06pm On Dec 05, 2019 |
helinues:The extra N5 billion is the padding 1 Like 1 Share |
Re: Nigerian Senate Increases And Passes 2020 Budget by urahara(m): 4:08pm On Dec 05, 2019 |
What are statutory transfers ? |
Re: Nigerian Senate Increases And Passes 2020 Budget by Temptee101(m): 4:09pm On Dec 05, 2019 |
Na today This has been an annual ritual, nothing tangible to come out of it |
Re: Nigerian Senate Increases And Passes 2020 Budget by Nobody: 4:09pm On Dec 05, 2019 |
shiwex: Before you try to sound more intelligent than yourself, you can't compare apples and grapes 9 Likes 1 Share |
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