The House of Representatives has raised the 2020 Appropriation Bill from N10.33 trillion to about N10.6 trillion.

The new figure has been proposed by the House Committee on Appropriation, which is scheduled to lay its report on the national budget at the plenary today (Wednesday).

The committee has recommended a total budget sum of N10,594,362,364,830.

President Muhammadu Buhari had on October 8, 2019, presented the appropriation bill to a joint session of the National Assembly.

Both the executive and the legislature plan to pass the bill before Christmas break to return Nigeria to a January-December budget cycle.

The new budget breakdown, as proposed by the House Committee on Appropriations, is as follows:

Total sum: N10,594,362,364,830
N560,470,827,235 for Statutory Transfers
N2,725,498,930,000 for Debt Service
N4,842,974,600,640 for Recurrent (Non-Debt) Expenditure
N2,465,418,006,955 for contribution to the Development Fund for Capital Expenditure
The committee also recommended that the current 2019 budget terminates on December 31, 2020.

"Exciting news! TheNigeriaLawyer is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest legal insights!" Click here! ....................................................................................................................... Unauthorized use and/or duplication of this material and other digital content on this website, in whole or in part, without express and written permission from TheNigeriaLawyer, is strictly prohibited _________________________________________________________________ [Register Now] ILA Nigeria Branch Marks 10 Years With Infrastructure Financing As Theme For 7th Annual Conference The International Law Association - Nigeria Branch 7th annual conference on public-private partnerships for sustainable infrastructure financing, April 4-5 in Abuja. Details: https://ilanigeria.org.ng/conference _________________________________________________________________

NIALS' Compendia Series: Your One-Stop Solution For Navigating Nigerian Laws (2004-2023)

Email: info@nials.edu.ng, tugomak@yahoo.co.uk, Contact: For Inquiry and information, kindly contact, NIALS Director of Marketing: +2348074128732, +2348100363602.