Business & Finance

National Asembly To Spend N200 Billion -Buhari

President Muhammadu Buhari at the joint sitting of the National Assembly while presenting 2020 budget on Tuesday, October 8, 2019 said the National Assembly will spend N125 Billion while the Judiciary will spend N110 Billion.

The President said N2.45 Trillion of the budget would be used for debt servicing out of which local debts would expend N296bn and the overhead cost would be N426.6bn.

He further, assured Members of the National Assembly of a cordial relationship with his Government and appealed to law makers to be cautious of unnecessary budget delays so as to enable the 2020 budget come into effect by January 1, 2020.

In addition, He said Ministries, Department and Agencies (MDAs) are not permitted to admit new projects into their provisions except adequate provisions are made for the completion of ongoing projects.

The Senate President, Ahmad Lawan while welcoming the President said, this function is the first in the 9th session and significant as both the legislative and Executive are ready and committed to work together in order to pass the 2020 budget in good time.

He gave the assurance that the National Assembly will swing into swift action immediately upon the receipt of the budget noting the already existence of constituted committees, ready to start the work.

Source: Federal Ministry of Information and Culture