SWITZERLAND, OCTOBER 08 – President Muhammadu Buhari has finally presented the 2020 budget, which is based on N8.15 Trillion revenue projection. According to media aide, Bashir Ahmad, the increase in budget reflects the new minimum wage.
This budget is based on new VAT rate of 7.5 per cent.
According to the president, the increased revenues will be used to fund education, health and infrastructure.
Below are the allocations to some MDA’s as listed by the presidency:
Works & Housing – N262bn
Transportation – N123bn
UBEC – N112bn
Defence – N100bn
Agriculture – N83 bn
Water – N82bn
Niger Delta – N81bn
Education – N48bn
Health – N46bn
NEDC – N38bn
SIP – N30bn
FCT – N28bn
President @MBuhari presents 2020 Appropriation Bill to the National Assembly. The increase in the budget reflects new national minimum wage. Follow #Budget2020Ng for updates or watch live on NTA or other local television stations.
Dede is an accomplished literary critic and public commentator with a penchant for telling compelling stories. An avid Man City fan, he lives in Lagos.
