The Senate on Thursday passed the 2020 Appropriation Bill. In passing the budget, the lawmakers increased the total sum from N10.330,416,607 to N10.594,362,364. The Senate also increased the benchmark price of crude from 55$ to 57$, however, the exchange rate at N305 to 1$ was retained.
Senator Ibrahim Jibrin, the chairman committee on appropriations explained that budget figure was increased to allow for interventions in critical areas of national security, road infrastructure, health, social needs, water as well as mines and steel development.
President of the Senate, Ahmad Lawan had announced on Wednesday that the 2020 Appropriation bill before the parliament will be passed today the 5th of December.
He informed lawmakers at plenary shortly after the Public Procurement Act 2007 amendment bills were passed, which he believes, will complement the 2020 budget.