Sat. Aug 15th, 2020

News Agency of Nigeria

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Gov. Bello attributes reduction of 2020 budget to COVID-19 pandemic

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Gov. Abubakar Sani Bello of Niger

Gov. Abubakar Sani-Bello of Niger has attributed the revised 2020 budget to the COVID-19 pandemic that have had negative impact on the global economy.

This was stated in a letter forwarded to the leadership of the state house 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 News Agency of Nigeria (NAN) reports that the 2020 proposed revised budget was forwarded to the lawmakers for consideration.