Coronavirus: FG reduces 2020 budget

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.

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