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Published On: Wed, Oct 9th, 2019

Reps to pass 2020 budget ‘first week of December’

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The House of Representatives says it would pass the 2020 budget presented to it on Tuesday by President Muhammadu Buhari in the first week of December.
The president presented the 2020 budget proposal of N10.73 trillion to a joint session of the National Assembly.
While presenting the budget, Mr Buhari said the federal government is targetting a revenue of N8.155 trillion comprising N2.64 trillion oil revenue, N1.8 trillion non-oil tax revenue and N3.7 trillion other revenues.
Speaking to journalists at the National Assembly, the spokesperson of the House, Benjamin Kalu, reeled out arrangements it has for the budget passage.
“The House will debate on the general principles of the bill on Wednesday and Thursday,” he said.
He said budget hearing and engagements with ministries, departments and agencies will hold from October 10 to 29.
He also said the “biblical hearing” of the budget holds October 21 – 22.
“The submission and defense of budget to Appropriations Committee holds from October 30th – November 5th.
“Collation and harmonisation of reports by the Appropriations Committee will be between 6th – 27th November.”
The Abia state lawmaker said the House would be done with the budget by November 28 and the reports of the budget presented and passed by the first week of December.
“I want to assure the general public that this is how it is supposed to be where nation-building is a joint task,” he stated.
The president, while presenting the budget, said oil benchmark is set at $57 at 2.18m barrels per day production, with capital projects gulping N2.46 trillion.

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