FG slashes budget, sends to National Assembly for review

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The Federal Government has revised downward the revenue projection for the 2020 budget by N3.3tn from the initial approved amount of N8.41tn to N5.08tn.

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The revised revenue projection is contained in a proposal sent to the National Assembly by the executive.

Based on the revenue parameters underlying the revised proposal, the Federal Government revised downwards the oil price benchmark from $57 per barrel to $30 per barrel. An analysis of the revenue items showed that oil revenue suffered the highest reduction of N2.38tn from the initial approved amount of N2.63tn to N254.25bn.

However, independent revenue from agencies of government was increased by N66.88bn from N849.96bn to N916.84bn. A breakdown of some of the Nigerian expenditure items showed that anniversaries/celebrations were reduced by N3.08bn; computer software, N3.14bn; office buildings, N24.86bn; residential buildings, N479.6m; monitoring and evaluation, N10.8bn; land acquisition, N1.45bn; computers, N1.9bn; purchase of motor vehicles, N5.25bn and office furniture, N3.94bn.Others are rehabilitation of office building, N49.52bn; repair of residential buildings, N1.07bn; research and development, N45.

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U don't need to published all this for us , the budget that we didn't see the effect of it, so why publishing it?

Hope they slashed NASS budget ?

After making double of the money they would have made through this corona virus pandemic.God bless come and govern Nigeria by yourself.

If I read this correctly the plan was to spend 50 billion rehabilitating buildings and only 1 billion providing roads....

When you did not do it, did it have any impact on the poor masses..?

Lobatan 🙄

When a man is denied the right to live the life he believes in, he has no choice but to become an outlaw. – Nelson Mandela

You need brain transplant if you believe the government have your best interest at heart

I hope NA will not burn

Is NTA still getting $500m?

We don't care about any financial news anymore .... Selfish people 😐

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