‘Why There Is Reduction In Our 2020 Budget’
Gov. Abubakar Sani-Bello of Niger has attributed the revised 2020 budget to the outbreak of the COVID-19 pandemic that has had a negative impact on the economy of many countries including Nigeria.
This was stated in a letter forwarded to the leadership of the statehouse assembly by the governor for consideration which was read by the Speaker of the House, Alhaji Abdullahi Wuse during plenary in Minna on Thursday.
The letter which was titled “Forwarding of 2020 Proposed Revised Budget” stated that the preparation of the 2020 budget was necessitated by the outbreak of COVID-19.
The pandemic, he said had led to the collapse of crude oil price to less than 30 dollars per barrel below the benchmark price of 56 dollars per barrel approved in the 2020 budget.
It noted that the revised budget was aimed at realigning the approved 2020 budget allocation such as recurrent and capital by reducing and cutting non-essential expenditures and also accommodating palliatives to address the impact of COVID-19.
The letter said the 2020 approved budget of N155 billion was only reviewed downward to N105 billion which is made up of recurrent expenditure of N33 billion and capital expenditure of N71 billion.
The 2020 proposed revised budget was forwarded to the lawmakers for consideration.
