House of Reps receives 2020 budget final report

The House of Representatives has received the final report of the 2020 budget.

The Chairman, House Committee on Appropriations, Muktar Betara Aliyu (APC, Biu/Bayo/Shani/Kwaya Kusar, Borno State), laid the report before the House on Wednesday.

The Senate also on Wednesday reached the same milestone in the annual federal appropriation process.

President Muhammadu Buhari on October 8 had presented a proposed budget of ₦10.33 trillion to a joint session of the National Assembly.

But in the report presented by its chairman, the committee put the Consolidated Revenue Fund of the Federation at ₦10.6 trillion, out of which ₦560.5 billion is for statutory transfers (a category into which the National Assembly budget falls).

READ ALSO: REC Nominees: Senate rejects ‘former’ APC member, confirms two others

The report recommended ₦2.725 trillion for debt servicing; ₦4.84 trillion for recurrent (non-debt) expenditure; and ₦2.465 trillion for capital expenditure.

After the president presented the budget proposals to the joint session, the two chambers held separate plenary sessions to deliberate on the proposals.

Some lawmakers hailed the president’s propositions while others criticised some of the provisions.

The House then referred the budget to the House Committee on Appropriation, which in turn split it across House committees.

The committees then had a series of budget defence sessions with Ministries, Departments and Agencies.

The reports submitted by the committee were aggregated by the Appropriations Committee to prepare the general report for consideration and passage by the plenary.

Advertisement

PT Mag Campaign AD

LEAVE A REPLY

Please enter your comment!
Please enter your name here