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:

Statutory transfer – N560,470,827,235

Debt service – N2,725,498,930,000

Recurrent expenditure – N4,842,974,600,640

Capital expenditure – N2,465,418,006,955

Fiscal Deficit – N2.28 trillion

Deficit/GDP – N1.52 per cent

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

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

Good to know

Hope no budget padding this time around

https://www.youtube.com/watch?v=ohTit5o1bbs

House of Reps raise 2020 budget to N10.6tn

See yams

Oya noww ....

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

Audio budget

Some people Are already adding more money to the ones they had. Politics sweet in Nigeria gan

If only there is a law , to kill corrupt politicians

Next level locked and loaded. Nigeria will be great.

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

Okay , nothing to see here people.

Just the capital expenditure being half of salaries and overhead just like every other year in Nigeria.

supremenews:
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.



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

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!

What a country we live in.

Okay!

Buhari should just veto it

They will never say no to money

.

helinues:
Good to know

Hope no budget padding this time around

The extra N5 billion is the padding

What are statutory transfers ?

Na today

This has been an annual ritual, nothing tangible to come out of it

shiwex:
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

Before you try to sound more intelligent than yourself, you can't compare apples and grapes