Has the appropriation bill been passed into law?
By Jide Hassan
Posted on Dec 18, 2019
Yes. President Muhammadu Buhari on Tuesday, December 17 signed the 2020 appropriation bill of N10,594,362,364,830 into law in Abuja.
News Agency of Nigeria (NAN) reports that the budget was increased from N10.33 trillion to N10.594 billion by the National Assembly.
NAN observed that N560.47 billion of the total budget is for statutory transfers while N2.7 trillion is for debt service.
Other breakdown of the budget include N4,842,974,600,640 for Recurrent Expenditure; Capital expenditure N2,465,418,006,955; Fiscal Deficit N2.28 trillion and Deficit/GDP N1.52 per cent.
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