BEVERLY HILLS, June 11, (THEWILL) – The Senate on Thursday passed the revised 2020 budget of N10,805,544,664,642.
The lawmakers passed the budget during plenary on Thursday, a day after members of the House of Representatives approved the same figure.
The budget was passed at both the Senate plenary and at the Committee of Supplies following the consideration of the report of the Senator Barau Jibri-led Committee on Appropriation.
A breakdown of the figure shows that the sum of N2,488,789,433,344 is for capital expenditure and recurrent non-debt expenditure has N4,942,269,241,984.
The executive also allocated N422,775,979,362 for statutory transfer, while N2,951,710,000,000 was budgeted for debt service.
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The sum of N500 billion was passed in the budget as an intervention fund for COVID-19, while N186 billion was earmarked for the health sector.
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