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Updated: NASS Pass 2020 Budget, Recurrent Expenditure Takes Large Chunk

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The National Assembly (NASS) on Thursday passed the 2020 Budget of N10.594 trillion, as against N10.33trillion presented to the National Assembly by President Muhammadu Buhari.

The breakdown of the budget as passed by Senate is as follows:

Read Also: President Buhari’s 2020 Budget Speech (Full Text)
Aggregate Expenditure- N10.594trillion

Statutory transfers– N560 billion

Debt service – N2.725 trillion

Recurrent expenditure – N4.842 trillion

Capital expenditure – N2.465 trillion.

Fiscal Deficit N2.28 trillion

Deficit to GDP 1.52 per cent

Oil production 2.18 mbpd

Oil benchmark $57 per barrel

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