Finance Minister assures adequate funding of 2020 appropriations

Nigeria’s Minister of Finance, Mrs Zainab Ahmed has assured the Senate Committee on Appropriation that the 2020 budget to be presented by President Muhammadu Buhari would be adequately funded.

She gave the assurance in response to the panel’s inquiry on how the Executive would raise funds for the implementation of the budget.

Zainab Ahmed, who appeared at the Senate Committee’s invitation with top officials of the Ministry, explained that measures were being taken by government to ensure 95 percent implementation of the 2020 budget in the interest of the nation.

She said government would sustain Social Reinvestment programme in order to bridge poverty gap of the people, revealing that about N80 billion had been earmarked.

“The Federal has earmarked the sum of N80 billion in order to continue the Social Reinvestment Programme in 2020 budget.

“We are taking steps by way of placing embargo on employment with exception to Military and Paramilitary as part of measures to tackle the current paucity of funds.

“The Federal government would avoid excessive spending particularly in those areas that are not captured in the budget,” she explained.

Earlier in his remarks, Senate Committee Chairman on Appropriation, Senator Jibrin Barau sought to know FG’s measures for adequate funding of the 2020 budget.

“What we are here for today is to know the measures the executive has put in place to adequately fund the expected 2020 budget,” he said.

Members of the Committee, Senators Sankara Abdullahi (Jigawa North West), Abba Moro (Benue South) insisted that some leakages in the revenue generation agencies must be blocked in order to generate revenues for government.

President Muhammadu Buhari is expected to present the 2020 appropriations to the joint session of the National Assembly next week Tuesday.

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