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Senate moves N10.594trn 2020 funding

The Senate on Thursday passed N10.594 trillion since the 2020 Funding as against the N10.33 trillion Suggested by President Muhammadu Buhari into

the joint session of the National Assembly on October 8, 2019.
Considering that the report, the board, Senator Barau Jibrin’s chairman,

stated the growth of N264 billion permitted for interventions in areas like steel growth, street infrastructure mines and security .

This Senate conclusion followed the adoption of this report of its Committee in plenary on Appropriation.

He explained the daily oil production dropped at 2.18m barrels daily, oil grade was raised from $55 to $57 per barrel

signaled by the Executive, while the market rate stayed N305 percent.

Jibrin Reported the statutory transfer stood at N560.5bn, Recurrent Expenditure-N4.8trn,

Capital Expenditure-N2.5trn, Debt Servicing-N2.7trn, Fiscal Deficit-N2.3trn and Deficit to GDP of 1.52 percent.

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