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House of Reps Pass 2020 budget

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The House of Representatives on Thursday passed the 2020 budget. The Lawmakers had on Wednesday received the final report of the budget from the Appropriation Committee.

The aggregate of the newly passed budget was upped to ?10.6 trillion, from the ?10.3 trillion presented to the National Assembly by President Muhammadu Buhari on October 8.

The National Assembly also had a jerk in its budget to ?128 billion from the proposition of ?125 billion by the president.

Of the this new total, ?560 billion was earmarked for statutory transfers, a special category of fund which the federal government is mandated to release after receiving revenues, before other considerations. The National Assembly, INEC, National Human Rights Commission, and Basic Health Care Fund fall in this category. Others are NJC, NDDC, NEDC, UBEC, and the Public Complaints Commission.

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