Ben Akabueze, budget office the director-general of Budget Office, Ben Akabueze, has cleared the air on the exact amount allocated for the renovation
Ben Akabueze, budget office the director-general of Budget Office, Ben Akabueze, has cleared the air on the exact amount allocated for the renovation of the National Assembly complex.
He said the allocation, which was initially N37 billion, was cut down by 75 percent to N9.25 billion, and not N27 billion as was quoted by some reports.
“The provision for renovation/retrofitting of the National Assembly (NASS) Complex in the revised budget is N9.25bn, not N27bn as being bandied around. The initial provision of N37bn in the 2020 Appropriation Act for this was cut by 75% due to the impact of Covid-19 on government revenues.”
He also said the allocation for universal basic education and basic healthcare provision fund was not slashed but was adjusted to fit the one percent of the consolidated revenue fund as stipulated by the law.
“Therefore, when the Covid-19 pandemic eroded the CRF, the budgetary provisions were automatically adjusted in accordance with the applicable laws,” Akabueze said.
President Muhammadu Buhari had signed a budget of N10.5 trillion into law but the impact of the coronavirus pandemic caused the federal government to make some adjustments in the allocations. The revised appropriation bill is now being considered by both chambers of the national assembly.
