The House of Representatives has passed the 2020 Amended Appropriation bill for the second reading. The revision is not unrelated to the COVID-19 pandemic that effectively shut the economy down for at least 6 weeks.
The budget which was increased from ₦10.279 trillion to ₦10.509 trillion from the original 2020 budget of ₦10.594 trillion Naira passed by both chambers of the National Assembly in December 2019 is aimed at cushioning the effect of the oil price fall as well as the backlash on the nation’s economy caused by the global outbreak of the coronavirus.
The leader of the house Honourable Ado Doguwa says the Amendment Bill will aim to revive the nation’s economy and boost economic activities.
