Zamfara State House of Assembly has passed into law the Executive Bill seeking the downward review of the 2020 budget by 20 Percent.
The assembly passed the bill at its extraordinary sitting.
It says, the downward review of the 2020 budget became necessary, in view of the negative impact of coronavirus pandemic on the global economy.
The breakdown of the reviewed Budget shows that it has been slashed down from 188.5billion to 127.3 billion, to align with the current economic situation occasioned by the coronavirus pandemic.
The capital expenditure which got a whopping N117 billion, has been trimmed down to 68. 3 billion, while the recurrent expenditure was 71billion which has now been slashed down to 59.3billion Naira.
The budget’s earlier benchmark was pegged at 50 dollars per barrel of Nigeria’s crude oil.
The reviewed budget now puts it at 42 dollars per barrel.
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The Speaker of the Zamfara State House of Assembly, Nasiru Muazu says, the house will work closely with the executive to ensure the implementation of the budget to impact positively on the citizens.
The Chairman House Committee on Budget, Honourable Mohammed Janguru says, the Coronavirus pandemic has impacted the world’s economy, which informed the trimming down of the 2020 budget by 20 percent.
Editor: Ena Agbanoma
