2020: FG Proposes N9.78trn Budget - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (F.BA)
September 11, 2019
The Federal Government has presented the medium termexpenditure framework and fiscal strategy paper where it proposed a totalbudget of 9.78 trillion naira for 2020.
The Minister of Finance, Budget and NationalPlanning, Zainab Shamsuna Ahmed who made the presentation, also proposed abudget of 10.1 trillion naira for 2021 and 10.4 trillion naira for 2022.
The crude oil benchmark for 2019 budget is put at 60dollars per barrel whilst for 2020-2022, it is reduced to 55 dollars per barrelwith the oil production benchmark put at 2.18 million barrels per day.
Ahmed also noted that “the 2020 to 2022 fiscal yearswill be very challenging with respect to revenue generation and rapid growth inpersonnel costs, thus the states would be adversely impacted.
She also tipped non-oil revenue to grow marginally.
The minister said all ministries, departments andagencies not on the Integrated Payroll and Personnel Information System IPPISwill not get paid as from October 2019 until they are able to do so.