The federal government has reduced the 2020 budget following the impact of the Coronavirus pandemic on the economic activities of the country.
In a new proposal sent to the National Assembly by the federal government, the 2020 budget was reduced from N10.594 trillion to N10.276 trillion.
The oil bench mark was reduced from $57 per barrel to $30 per barrel, while the oil production volume was reduced from 2.17 million barrel to 1.70 million barrel.