SENATE PASSES 2020 BUDGET WITH N2.9TR FOR DEBT SERVICE

Senate passes 2020 budget with N2.9tr for debt service

The Senate have passed the revised 2020 budget of N10.8tr.

The lawmakers passed the budget during plenary, a day after members of the House of Representatives approved the same figure.

A breakdown of the figure shows that the sum of  N2.4tr for capital expenditure and recurrent non-debt expenditure has N4.9tr.

The executive also allocated N422bn for statutory transfer, while N2.9tr was budgeted for debt service.

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