nigeria revised 2020 budget
The Federal Executive Council has approved the review to the 2020 budget and the Medium Term Expenditure Framework for 2020-2022 as recommended by the ministry of finance. N204.4mn was voted for the purchase of equipment in State House medical centre. #ENDSARS: Top Nigerian Bank sued by firm for freezing account, Discos begin implementation of revised electricity tariff, US economy returns to growth, GDP surges by highest ever record, I won’t approve 2021 budget without provisions for #EndSARS victims, ASUU – Gbajabiamila, Nigerian economy has lost N700bn to #EndSARS protests – LCCI, China’s GDP Grew 4.9% in third quarter, misses expectation, Details of unimplemented FG 2020 Zonal Intervention Projects (ZIP), FG will double number of Airports in Nigeria by 2023 – Minister, Beware of Fraudulent Loan Offers, Investment Schemes – CBN Warns, Just in: Inflation rate in Nigeria hits 13.71%, highest in two and half years, Nigerian Youth Investment Fund: Details and how to apply, Nigerian Police received over N2 trillion budget allocation in 6 years, Details of FG N500 bn Covid-19 Intervention Fund, Update: CBN reduces MPR to 11.5% from 12.5%, deposit savings rate to be affected, FG Survival Fund for MSMEs – Step by Step registration process, FG Survival Fund – How and when to Register, N75bn MSME schemes’ registration begins Monday – FG, FIRS Nigeria collects N490 billion tax receipts in July; N438 billion (89%) from Non-oil sources, Market Spotlight: Unusual volume of Bua Cement Plc traded in 1 minute, Apple crashes over 6% due to disappointing 4th quarter iPhone sales and lack of forward guidance, Oil Price crashes over 4% amid rising cases of Covid-19 in the U.S and Europe, What 6 Wall Street analysts said about Tesla’s big earnings beat, Tesla stock falls over 3%, Bitcoin jumps to highest since July 2019 after PayPal opens service to cryptocurrencies, Suspension of trading on the shares of Sunu Assurances Nigeria Plc and lifting of suspension on Union Dicon Salt Plc, Our Website not Hacked: Nigerian Stock Exchange.

87.6% of allocation to health (N363bn) will be spent on personnel and admin costs, while just N51bn was set aside for capital projects in the Health Sector. N376.3bn was allocated to the ministry of humanitarian affairs, representing just 3.5% of the total budget size. The revised 2020 Appropriation Act (Amendment) Bill as submitted by the Executive to the National Assembly for approval proposed an estimated N10.51 trillion budget for the 2020 fiscal year.

N10mn to be spent on infant feeding and N51mn to maternal health. Senate approval of the revised budget at plenary followed the presentation of a report of the Committee on Appropriation by its Chairman, Sen. Barau Jibril (APC Kano), and consideration of same at the Committee of Supply. The revised 2020 national budget, which was passed by the National Assembly in June, was signed by President Muhammadu Buhari today. The budget has new benchmarks which now includes $25 per oil barrel, and a target production rate of 1.94 million barrels per day and then an exchange rate of N360 to $1, Finance minister Zainab Ahmed said while briefing State House correspondents on Wednesday. Is Idea of 'Belonging' Behind The Conflict in Nigeria's Kaduna? Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct. N133.4 bn (1.2% of the total budget) was allocated to the Power. The federal executive meeting had been on hold for a while due to the challenges posed by the coronavirus infection which is usually worsened by physical meetings. The members of the upper legislative chamber passed the budget during plenary on Thursday, a day after members of the House of Representatives approved the same figure. The Pen Drops As Renowned Nigerian Poet J.P. Clark Dies, Nigeria Senate Call for a Stop to Medical Trips Abroad for Buhari, Wizkid, Burna Boy Use Music to Condemn Nigerian Police Brutality, Nigerian Opposition Party Slams Govt for 'Reckless Borrowing', Nigerian Ife Terracotta Artefact Heading Back Home, Spread of Fake News Raises Censorship Fears in Nigeria, UN Call for Independent Inquiry Into Killings of Protesters, U.S. privacy policy and European users agree to data transfer policy. The Minister of Finance, Budget and National Planning, Zainab Shamsuna Ahmed, explained that the macroeconomic environment was significantly disrupted by the Covid-19 pandemic, necessitating Mr. President’s presentation of a revised 2020 budget on 28th May, 2020 which was signed into law on … However Maternal healthcare that directly affects a high percentage  of the population got just N51mn while just N10mn went to infant feeding. "These are operational vehicles; not for management staff or any other thing. The president stated that the budget aims to deepen his administration’s impact on the marginalized and vulnerable Nigerians. Coronavirus - Nigeria Cuts Oil Benchmark to $30, Slashes Capital Budget By 20%. According to the details revealed by BudgIT Nigeria, a civic tech organisation, raising the standards of transparency, citizen engagement & accountability most especially in public finance, just 3.8% (N414 bn) of the total budget was allocated to health sector, despite Covid-19 pandemic. ICT development had an allocation of just N4.5mn. The transport minister, Rotimi Amaechi, disclosed this to journalists, adding that the approval came because it "was the first time in four years that NPA is buying any vehicle.". BudgIT is in constant partnership with civil society, public institutions and the media, chiefly in the areas of fiscal analyses, civic technology and data representation. Christened “Budget of resilience,” the budget estimates represents an increment of N23.769 billion or 18 per cent from the revised year 2020. The details of the Nigerian 2020 budget show complete misplacement of the priorities of the Nigerian government. To address comments or complaints, please Contact us. "This is because, as we cut down the size of the budget," she noted, "we also have to bring in new expenditure previously not budgeted, to enable us adequately respond to the COVID-19 pandemic.". N128 bn for capital expenditure with N5.4bn allocated for recurrent expenditure. Already both the Senate and House of Representatives have approved the borrowing plan of N850 billion by the federal government.

Benue State Governor Samuel Ortom on Thursday presented the 2021 budget estimates of N132.592 billion to the Benue State House of Assembly for consideration and passage. The government of Nigeria, whose revenue could be slashed by more than half this year due to the oil-price slump, finalized plans for a revised budget that … We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Get the latest in African news delivered straight to your inbox. Information minister, Lai Mohammed, said the government's activities will continue by leveraging on technology.

Over 30 Vehicles Razed in Tanker Accident On Lagos-Ibadan Expressway, With 223 New Infections, Nigeria's Covid-19 Cases Rise Again, Lagos Police Prepare to Clamp Down On Protests, WTO's Chair Submits Okonjo-Iweala's Name for Ratification As DG, UN Food Agencies Warn of Rising Levels of Acute Hunger, Famine. Read more; FG of Nigeria spent 79.27% of its revenue on personnel costs in five month. 84% of its allocation (N317bn) will be spent on personnel and administrative expenses while 16% (N59.3bn) will be for capital expenditure.

This evacuation, he explained, was necessary to save Nigeria about 120 gigawatts of power, equivalent to $9 million in a year. It had referred the revised budget to the Senate Committee on Appropriation for further legislative input. Founded in 2011, BudgIT is a civic organization that applies technology to intersect citizen engagement with institutional improvement, to facilitate societal change.

Market Spotlight: Price adjustment of PZ Cussons Nigeria Plc. He said the passage of the revised 2020 budget would make Nigerians feel the essence of government. Articles and commentaries that identify as the publisher are produced or commissioned by AllAfrica. More details has emerged about the revised 2020 budget which has been signed into law by President Muhammadu Buhari on Friday 10 July 2020. The personal assistant to the President on New Media, Bashir Ahmad, disclosed this on Friday morning on Twitter. [Twitter/@DrAhmadLawan], Don't miss a thing, get the latest updates to fuel your conversation daily. Ms Ahmed said while the federal government will fund the budget by N5.158 trillion, the deficit from N5.365 trillion will be financed by both domestic and foreign borrowing. He said the senate would ensure value for money on every project in the revised budget, while urging various committees to ensure detailed oversight of the revised budget.

Please try again later. Ms Ahmed said the revised budget now amounts to N10.5 trillion, a difference of about N71.5 billion when compared to the initial approved budget. NSCDC parades 6 suspected rail line vandals in Benue, When Angels from Africa were summoned to help Trump win his election, Twitter had a lot to say, Solskjaer says Man Utd 'set up to fail' after vital win at Everton. “At exactly 11:04am today, President @MBuhari signed into law, the revised N10.8 trillion budget for the year 2020,” Ahmad tweeted. There was a problem processing your submission. Allocations to Ministry of Agriculture is a paltry N160bn. Nigeria now has over 63,000 confirmed infections and 1,151 deaths as at yesterday. The N10.8 trillion budget was passed by the Senate and House of Representatives on Thursday 11 June and Wednesday 10 June 2020 respectively. Cancels Traditional Eid-El Kabir Celebrations, COVID-19 - Ogun Extends Lockdown, As Schools, Religious Centres Remain Closed, Jobs, Small Business Support Key for Strained Nigeria Economy, Nigerian Lawmakers Got 15 Percent of 774,000 Jobs but Want More - Minister, COVID-19 Cases Rise to 25,694 as 561 New Infections Recorded, FG Announces Committees On 774,000 Jobs for 36 States, FCT - (Full List), Why We Disengaged 500,000 N-Power Beneficiaries - Govt, Politicians Harassing Me Over 774,000 Jobs - Keyamo, Kallon - Nigeria Remains Critical Economic Hub in Africa, Chop, Chop Will Be Familiar Sound as Nigeria Govt Mulls Cuts, Group Backs Oronsaye's Report, Calls for Reappraisal of CPN Act, Govt Plans to Harmonise Salaries, Wages of MDAs - Ngige, Aviation Unions Oppose NCAA, NAMA, NiMet, Merger, Civil Service Union Kicks Against Oronsaye Report, Lay-Off, Govt to Set Up Panel On Implementation of Oronsaye Report, NASU Rejects Move to Implement Oronsaye Report, COVID-19 - Job Cuts Loom, As Buhari Falls Back On Oronsaye Report, Oronsaye Report - Lawyers, Lawmakers Set Template for Implementation. A pioneer in the field of social advocacy melded with technology, BudgIT uses an array of tech tools to simplify the budget and matters of public spending for citizens, with the primary aim of raising standard of transparency and accountability in government. As at end May 2020, only N253bn has been disbursed for Capital Projects, according to President Buhari.
Save my name, email, and website in this browser for the next time I comment. What Really Happened At the Lekki Tollgate On October 20? Ministries of Education and Water Resources received N75 bn and respectively N80 bn. AllAfrica publishes around 900 reports a day from more than 130 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. You have successfully subscribed to receive our newsletter, President of the Senate, Ahmad lawan.


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