The Nigerian Senate proposed an increment in 2020 budget.

The Senate.
The Senate proposed N10.594 trillion as the 2020 budget on Thursday as against the previous N10.33 trillion proposed by President Muhammadu Buhari earlier to the joint session of the National Assembly on October 8, 2019.This Senate decision included  the use of the report of its Committee on Appropriation at plenary.
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The report presented by  the chairman of the panel, Senator Barau Jibrin, said the increase of N264 billion allowed for interventions in critical sections such as national security, road infrastructure mines and steel development, health among others.Jibrin said the statutory transfer stood at N560.5 billion, Recurrent Expenditure at N4.8 billion, Capital Expenditure at N2.5 billion, Debt Servicing at N2.7 billion, Fiscal Shortfall at N2.3 trillion and shortfall to GDP of 1.52 per cent.He said the daily oil production stood at 2.18m barrels per day, oil benchmark was increased from $55 to $57 per barrel passed by the Executive, while the exchange rate remained N305 per dollar.

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