The House of Representatives on Wednesday passed the revised 2020 Appropriation Act.
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The new budget was put at N10.8 trillion, a N300 billion increase from the initial approved amount of N10.5 trillion.
The budget was considered and passed after Mukhtar Betara, Chairman of the House Committee on Appropriations, presented the panel’s report during plenary.
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The budget had been passed in December 2020, but the Federal Government said it had to make adjustments following the novel coronavirus (COVID-19) pandemic and its impact on the price of oil in the international market.
Part of the adjustments was the allocation of N100 billion as COVID-19 intervention fund.
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Allocations for various government ministries, departments and agencies (MDAs) were also slashed following the shortfall in expected oil revenue.
The federal lawmakers also approved President Muhammadu Buhari’s request for $5.5 billion loan.