FEC approves revised 2020 budget
President @MBuhari is currently presiding over the virtual Federal Executive Council Meeting at the State House, Abuja, the New Chief of Staff, Amb. Ibrahim Gambari in attendance [PHOTO CREDIT: @BashirAhmaad]The Federal Executive Council has approved the review to the 2020 budget and the Medium Term Expenditure Framework for 2020-2022 as recommended by the ministry of finance.
“This is because, as we cut down the size of the budget,” she noted, “we also have to bring in new expenditure previously not budgeted, to enable us adequately respond to the COVID-19 pandemic.” “The borrowing, the multilateral loans drawdown coming from special accounts and coming from the privatisation will fund the fiscal deficit of N5.365 trillion that we have in the proposed amendment of the 2020 budget,” she added.
“These are operational vehicles; not for management staff or any other thing. They are all Toyota,” he said, adding that the contract was awarded to Globe Motors Holding Nigeria Limited.
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