Reps Pass 2020 Budget For Second Reading

The House of Representatives has passed the 2020 budget for second reading.

The House had commenced debate on the general principles of the appropriations act on Wednesday.

President Muhammadu Buhari on Tuesday presented a spending plan of N10.3 trillion to the National Assembly, making next year’s proposed budget the country’s highest ever.

The proposal shows that about a quarter of the sum (N2.5 trillion) will be used for debt servicing, while capital expenditure is expected to gulp N2.1 trillion which excludes the capital component of statutory transfers.