[NEWS] SENATE PASSES 2020 BUDGET, RAISES ESTIMATES BY N260bn

The Senate has passed the 2020 budget and the appropriation bill was increased to the total sum from N10.330,416,607 to N10.594,362,364.

The Senate also increased the benchmark price of crude oil from 55$ to 57$ per barrel, however, the exchange rate remains N305 to 1$.

The chairman committee on appropriation, Senator Barau Jibrin, explained that the budget figure was increased to allow for interventions in the areas of national security, road infrastructure, health, water as well as mines and steel development.