SEE MINISTRIES, PARASTATALS WITH HIGHEST ALLOCATIONS IN 2020 BUDGET

President Muhammadu Buhari on Tuesday presented a budget of N10.729 trillion to the joint session of the National Assembly for approval for the 2020 fiscal year. According to the document, some of the ministries witnessed major changes when compared to the 2019 Budget proposal submitted by Buhari However, the Ministry of Works and Housing had the highest figure in the Budget Bill. Below is the budget breakdown: Buhari to present 2020 Budget proposal to NASS Tuesday – Presidency(Opens in a new browser tab) Works & Housing – N262bn Transportation –…

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SEE FULL TEXT OF BUHARI’S SPEECH AT THE PRESENTATION OF 2020 BUDGET

2020 BUDGET SPEECH: Budget of Sustaining Growth and Job Creation Delivered By: His Excellency, Muhammadu Buhari President, Federal Republic of Nigeria At the Joint Session of the National Assembly, Abuja Tuesday, October 8, 2019 PROTOCOLS 1. I will start by asking you to pardon my voice. As you can hear, I have a cold as a result of working hard to meet your deadline! 2. I am delighted to present the 2020 Federal Budget Proposals to this Joint Session of the National Assembly, being my first budget presentation to this…

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EXTRAORDINARY FEC TO CONSIDER 2020 BUDGET HOLDS TODAY

Friday Olokor, Abuja The extraordinary meeting of the Federal Executive Council earlier scheduled for Saturday would take place today Monday, October 7, 2019, by 12 noon. The Special Adviser to the President (Media and Publicity), Femi Adesina, had said the FEC meeting “is to put finishing touches to the year 2020 budget, which would still be presented to the National Assembly by 2pm on Tuesday.” THE PUNCH reported that the Senate had received an official communication from President Muhammadu Buhari to present the 2020 Appropriation bill before a joint session of…

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SENATE INCREASES 2020 BUDGET BY OVER 700BIL

Amidst contradictions in the Medium Term Expenditures Framework and Fiscal Strategy Paper presented by President Muhammadu Buhari, the Senate on Thursday passed a resolution to increase the total proposed expenditure of the 2020 Budget from N10.002 trillion to N10,729.4 trillion. This was part of the recommendations of the Joint Committees on Finance on the 2020-2022 MTEF/ FSP of the National Assembly. Chairman Senate Committee on Finance, Adeola Olamilekan presented the report to the Senate at plenary yesterday. The Senate premised its decision to jerk up the budget estimate based on…

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BUHARI PRESENTS 2020 BUDGET TO NATIONAL ASSEMBLY NEXT WEEK

    The Presidency on Tuesday gave reasons President Muhammadu Buhari didn’t keep to his administration’s promise to present the 2020 budget to the National Assembly in the third week of September. It also said Buhari, who would visit South Africa this week, would present the budget next week. This came as findings by The PUNCH indicated that the non-presentation of the estimates had increased pressure on the administration to achieve a return of the country to the January-December budget cycle. Nigeria currently runs a May-June budget cycle, a development…

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WHY 2020 BUDGET MAY SUFFER DELAY

Senate • Senate yet to get medium-term expenditure framework • Vows action on petroleum bill, insecurity • Experts disclose ways to improve nation’s fiscal plan The Senate yesterday said it was yet to receive a draft copy of the Medium-Term Expenditure Framework (MTEF) from President Muhammadu Buhari, despite provisions of the Fiscal Responsibility Act mandating the president to submit the document four months to the end of the year. The announcement, which was made by Senate President Ahmad Lawan as lawmakers resumed from their end-of-session recess, suggests the ‘delay bug’…

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FINANCE MINISTER PROMISES TO ENSURE NASS GETS BUDGET BY MONTH END

  Ifeanyi Onuba The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has said that the Federal Government would at the end of September send the 2020 budget proposal to the National Assembly. Ahmed said this at the High-Level Roundtable meeting on National Donor Coordination held in Abuja on Wednesday. She said that the ministry was already preparing the 2020 budget had begun. Ahmed said, “The 2020 budget preparation process is well-underway, and we intend to finalise and submit the 2020 appropriation bill to the National Assembly by the…

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SENATE PRESIDENT LAWAN WANTS 2020 BUDGET NEXT MONTH

Targets December for passage to normalise fiscal cycle Deji Elumoye in Abuja President of the Senate, Dr. Ahmad Lawan, Thursday urged President Muhammadu Buhari to lay before the National Assembly the 2020 Appropriation Bill latest by September ending for its passage by December. He also appealed to the executive arm of government on the need to be on the same page with the legislature to reverse “the undesirable trend of the current budget cycle in Nigeria” and ensure the budget passage before the lawmakers go on Christmas break. Lawan also…

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