The revised 2020 budget of N146.4 billion represents 13.67 per cent reduction.
has signed the revised 2020 budget of N146 billion into law, as against the earlier approved budget of N169,557,658,300.00.
The revised 2020 budget of N146.4 billion represents 13.67 per cent reduction in the initial budget size of N169.6 billion, which amounts to N23.2 billion The revised budget, which was in response to the negative consequences of the outbreak of the coronavirus on the economy, was passed by State House of Assembly on Wednesday, after its presentation to the public for inputs.
According to details of the new budget, the earlier approved recurrent and capital expenditures of N68,790,000,000.00 and N100,767,658,300.00 were revised to N69,790,000,000.00 and N76,584,641,080 respectively, representing 48 per cent and 52 per cent respectively. Also in the approved revised budget, the state government made savings of N53,617,927,900.00 and added the sum of N27,455,910,680.
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