Nigeria’s President Muhammadu Buhari on Friday signed into law the revised 2020 budget for the country.
The National Assembly in June passed an increased budget for 2020 as Nigeria tackles the new coronavirus pandemic and a sharp fall in the price of oil – Nigeria’s biggest source of revenue from export. From the revised budget, N422 billion was earmarked for statutory transfers, while N4.9 trillion was for recurrent expenditure.
N500 billion was earmarked as intervention funds for the fight against COVID-19, while the health sector got N186 billion allocation.
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