Tuesday, 8 October 2019

2020 Budget: Buhari Presents Appropriation Bill To NASS



President Muhammadu Buhari presents the 2020 Appropriation budget to the joint session of the National Assembly on Tuesday.
The annual budget presentation which is always performed by the President makes the Parliament appropriate and approve allocations to the sectors of the economy as envisaged by the executive.
The Nigeria Senate on Thursday last week passed into law the Medium Term Expenditure Framework (MTEF) for 2020 – 2023 to the tune of N10.727 trillion passed into law.
However, Constitutionally, the MTEF is the basis with which annual budget is prepared by the Executive. It, therefore, means that today’s presentation of 2020 budget is in consonance with the laid down procedures of how the nation’s financial structure is laid.
Meanwhile, Today’s presentation of the 2020 budget by President Muhammadu is coming four months into the implementation of the 2019 budget.
It is ridiculous with the level of implementation of the last year which is sacrosanct continues to agitate the minds of some political analysts as well as financial experts.

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