Buhari set to sign revised 2020 budget – Aide

will on Friday sign into law the revised 2020 budget passed by the National Assembly in June.

The Senate and House of Representatives had on June 10 and June 11 respectively passed the revised 2020 budget of N10.8 trillion.The Minister of Finance, Budget and National Planning, Zainab Ahmed, who disclosed this, said the Council approved the reduction of oil benchmark price from the initial 57 to 25 dollars per barrel, crude oil production from 2.18 million to 1.94 million per day.“The crude oil price is approved at $25 per barrel, crude oil production is at 1.

“The federal government in this budget will have direct revenue of funding the budget of N5.158 billion. The deficit to this budget, N5.365 trillion and this will be financed by both domestic as well as foreign borrowing. “There will also be some drawdown of previously committed loans for major ongoing projects that we will be drawing from both existing facilities as well as some special accounts with the approval of Mr. President and the National Assembly,’’ she said.

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