A joint public hearing of the Senate and House of Representatives committees on Appropriation on the 2020 Appropriation Bill, 2020 Budget is underway at the Senate Hearing Room in the National Assembly.
TheNewsGuru (TNG) reports President of the Senate, Senator Ahmad Lawan declared open the joint public hearing on the 2020 Appropriation Bill by the Senate and House committees on appropriation.
In attendance at the Public Hearing are the Speaker of the House of Representatives, Rt. Hon. Femi Gbajabiamila, Ministers and heads of government agencies and parastatals as well as members of the National Assembly from the Senate and the House of Representatives.
The minister of Finance, Budget and National Planning, Hajiya Zainab Shamsuna, who was present at the public hearing, made a presentation on the 2020 Budget.
According to the minister, the 2020 budget proposal consists of: Statutory transfer – N556.7 billion, Non debt recurrent expenditure – N4.88 trillion, Capital Expenditure- N2.14 trillion, Debt service – N2.45 trillion, and Sinking fund – N296billion.
She gave the budget assumptions of the 2020 budget as: Oil price benchmark – $57, Oil production estimate – 2.18m bpd, Exchange rate – N305/USD, Real GDP growth – 2.93, and Inflation rate – 10.81%.
Rep. Mukhtar Betara and Senator Barau Jibrin are the Chairmen, Appropriations Committee of the House of Representatives and Senate, respectively.
Details shortly…