NASS pass appropriation bill - 2020 budget

Increasment of 2020 budget from N10.33 trillion presented by President Muhammadu Buhari before was changed to  10,594,362,364,830, that is, approximately N10.6 trillion, Premium Times reports. 


According to Jibrin's reports, the sum of N560.47 billion is for statutory transfers which fall into NASS' budget. 

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.

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