President Muhammadu Buhari on Tuesday presented N10.729 trillion for the 2020 fiscal year before the joint session of the 9th National Assembly.
Buhari said the 2020 budget will be based on the proposed new Value Added Tax (VAT) rate of 7.5% which he said will be used to fund education, health and infrastructure projects.
However, some of the key ministries that were highlighted during the presentation and their sum allocations include – Ministry of Works and Housing got N262 billion, Transportation Ministry got a budget of N123 billion, Agriculture Ministry received N83 billion, UBEC got N112 billion, Defence Ministry got N100 billion, Water Resources was allotted N82 billion, Education got N48 billion, while Health got N46 billion.
Other allocations include: North East Development Commission got N38 billion, SIPs was given a budget of N30 billion, FCT got N28 billion and the Niger Delta Ministry got N24 billion.
