Senate has on Thursday passed the revised 2020 budget of N10.8 trillion, the exact amount approved by the House of Representatives on Wednesday.
The budget was passed at both the Senate plenary and at the Committee of Supplies following the consideration of the report of the Senator Barau Jibri-led Committee on Appropriation.
The Senate increased the budget size by N300 billion from N10.5 trillion presented to it by the executive.
The National Assembly had in December 2019 passed N10.594 trillion 2020 budget and was assented to by President Muhammadu Buhari.
The budget was however reviewed due to the fall of oil price and the projected government revenue following the outbreak of COVID-19 pandemic.
Out of the amount, N422.775 billion is for Statutory Transfers, N2.951 trillion for Debt Service, N4.938 trillion for Recurrent (Non-Debt) Expenditure.
While the sum of N2.488 trillion is for contribution to the Development Fund for Capital Expenditure the year ending 31 December, 2020.
The sum of N500 billion passed in the budget as an intervention fund for COVID-19, while N186 billion is earmarked for the health sector.
The budget will now be sent to the President for his assent.
