Coronavirus: FG To Cut 2020 Budget As Buhari Raises C’ttee - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (J.T)
March 10, 2020
The Federal Government says there is possibility of reducing the 10.6 trillion naira 2020 budget following the impact of the coronavirus outbreak on the global crude oil price.
The oil yardstick, which was 51dollars per barrel early last week, has lately fallen to 31 dollars due to theoutbreak of coronavirus in some countries across the world.
The Minister of Finance, Budget andNational Planning, Zainab Ahmed, who briefed told State House correspondentafter a meeting said President Muhammadu Buhari has constituted a five-mancommittee to tackle the issue.
Zainab added that apart from her,other members of the committee were Minister of State, Budget and NationalPlanning, Clement Agba; the Minister of State, Petroleum Resources, TimipreSylva; the Governor of the Central Bank of Nigeria, Godwin Emefiele and theGroup Managing Director, the Nigeria National Petroleum Corporation, MeleKyari.
The Minister said the committeewould either brief Buhari soon, stressing that the crude oil benchmark price at57 dollar per barrel will be revisited by lowering the price.