Federal Govt approves N727b increment on 2020 budget

President Muhammadu Buhari

Federal Government on Monday approved the N727 billion increment on the 2020 budget by the National Assembly.

The approval was given during the Federal Executive Council chaired by President Muhammadu Buhari.

According to a source who spoke to The Nation on a condition of anonymity, said National Assembly was commended for the increment of the crude oil benchmark from $55 to $57 per barrel.

“FEC is happy with the National Assembly for increasing the benchmark to $57 per barrel. The additional $2 is to take care of recruitment in the security agencies and also attend to critical areas.

This is a sign that the legislature and the executive will work together for the interest of Nigerians. It is a good development,” he said.

President Buhari will today (Tuesday) present the 2020 budget by 2pm to the joint session of the National Assembly.

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