News
FG Cuts Down 2020 Budget
The Federal government has reduced the 2020 budget estimate from N10.594 trillion to N10.276 trillion.
The new budget proposal which is currently being considered by the leadership of the legislature reflects the economic realities of the outbreak and spread of COVID- 19.
It also reduces the oil benchmark from 57 dollars per barrel to 30 dollars per barrel, while the oil production volume was reduced from 2.17 million barrel to 1.70 million barrel and the exchange rate increased from N305 to a dollar to N360 to a dollar.
Details later….
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