President Muhammadu Buhari has presented the 2020 appropriation bill to the joint session of the national assembly with an aggregate expenditure of N10.33 trillion.
The proposal includes statutory transfers of N556.7 billion, non-debt recurrent expenditure of N4.88 trillion and N2.14 trillion of capital expenditure (excluding the capital component of statutory transfers).
Debt service is estimated at N2.45 trillion, and provision for Sinking Fund to retire maturing bonds issued to local contractors is N296 billion.
President Buhari said the 2020 Appropriation is designed to be a budget of Fiscal consolidation, to strengthen national macroeconomic environment;
Invest in critical infrastructure, human capital development and enabling institutions, especially in key job creating sectors.
It is also to enhance the government’s social investment programs to further deepen their impact on those marginalised and most vulnerable Nigerians.
Mr president therefore commended the patriotic resolve of the 9th National Assembly to collaborate with the Executive in the effort to deliver inclusive growth and enhance the welfare Nigerians.