Browsing: 2020 budget

However, the Chairman of Senate Committee on Information, Senator Dayo Adeyeye, while fielding questions from newsmen, explained that it was not that the Committees wanted to conduct budget defence in secrecy, but serious issues of budget defence, looking at figures, ratifying them, adjusting them don’t necessarily have to be open to the media.

This was contained in documents submitted to the National Assembly for consideration by President Muhammadu Buhari.According to the MTEF documents, the deficit will largely be financed by new borrowings estimated at N1.70 trillion, while about N253.08 billion will be derived from privatization proceeds and N328.13 billion are loans to secured for specific development projects.

The Federal Government has proposed to spend N9.12 trillion in 2020.This was contained in the Fiscal Strategy Paper/Medium Term Expenditure (FSP/MTEF) submitted for consideration to the National Assembly by President Muhammadu Buhari.The budget proposal is slightly higher than the 2019 of N8.92