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Senate passes N10.594tr 2020 budget

Published

6 years ago

December 5, 2019

Senate passes N10.594tr 2020 budget

..increases estimates by N264bn

The Senate on Thursday passed the 2020 Budget of N10.594 trillion, as against N10.33trillion presented to the National Assembly by President Muhammadu Buhari.

The Senators effected an increase of N264billion on the Budget.

The passage, followed the consideration and adoption of the budget report of Senate Committee on Appropriation chaired by Senator Jibrin Barau.

Senator Barau while presenting his report at plenary, said the committee adopted the 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) as approved by the National Assembly.

He said the committee worked in tandem with the Executive in the consideration of the Bill especially in additional revenue projection to fund critical projects.

He said the increase in the budget was to allow for interventions in areas like national security, road infrastructure, mines and steel development, health, social needs among others.

Following a clause-by-clause consideration of the report, at the Committee of the Whole, the Senate passed the Bill.

Senate President Ahmad Lawan, thanked his colleagues for their efforts on the budget, saying the success recorded on the budget was in conjunction with the House of Representatives.

He expressed satisfaction that the ninth Senate has achieved one of its key promises to return the budget cycle to January -December.

“We have done so much in a short while. We have given the executive everything they need – budget, finance bill, MTEF, among others,” Lawan said.

The Senate President said the upper chamber will interact with Ministries, Departments and Agencies (MDAs) on a quarterly basis to monitor the implementation of the budget.

“We hope that with this budget passed, the executive will ensure full implementation for the benefit of all Nigerians,” Lawan said.

He said the National Assembly has provided the executive what it needed to implement the budget.

He noted that the National Assembly would take its oversight duties very seriously.

He said the National Assembly would ensure that Nigerians get what they desire from government.

The breakdown of the budget as passed by Senate is as follows:

Aggregate Expenditure- N10.594trillion

Statutory transfers– N560 billion

Debt service – N2.725 trillion

Recurrent expenditure – N4.842 trillion

Capital expenditure – N2.465 trillion.

Fiscal Deficit N2.28 trillion

Deficit to GDP 1.52 per cent

Oil production 2.18 mbpd

Oil benchmark $57 per barrel

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Nigeria’s Historic Bid for the 2030 Commonwealth Games: A Call for National and Global Support

Published

1 week ago

September 30, 2025

The Gleamer

Joel Ajayi

Nigeria is poised to make history as it seeks to host the Centenary Commonwealth Games in 2030, a monumental opportunity that promises to transform the nation’s economy, infrastructure, and global standing.

More than a sporting spectacle, the Games would serve as a catalyst for development across multiple sectors, leaving behind a legacy of national pride and sustainable growth.

The benefits of hosting the Games extend far beyond the sports arena. Nigeria stands to gain both empirical and non-empirical advantages, with direct, indirect, and induced impacts that will touch every corner of society. Infrastructural development will take center stage, with new facilities such as indoor sports halls, conference centers, and improved road networks reshaping urban landscapes while strengthening the nation’s capacity to host future international events.

Economic growth is another significant dividend. Over 10,000 jobs are expected to be created, spanning construction, facility management, event planning, and tourism services.

The hospitality industry will undergo major improvements as hotels and resorts are upgraded to meet international standards, while local restaurants, lounges, and tourist attractions will see a surge in patronage from international visitors. Small and medium enterprises, particularly in the transport, finance, and food service sectors, will become some of the greatest beneficiaries, as the Games generate new demand and expand opportunities for local businesses.
The Commonwealth Games will also accelerate the growth of Nigeria’s sports industry.

Investments in training facilities, coaching, and talent development will inspire a new generation of athletes, ensuring long-term benefits that extend beyond 2030, a major focus of the President Bola Tinubu administration.
At the same time, the process of preparing for the Games will create opportunities for Nigerians to learn new crafts, acquire technical skills, and engage in global-standard event management, thereby strengthening human capacity and innovation across industries.

Mallam Shehu Dikko, Chairman of the Nigeria Sports Commission, and Hon. Bukola Olopade, the Director General, have been widely recognized for their tireless and visionary leadership in repositioning Nigeria’s sporting sector.

Their commitment to facilitating infrastructural development and strengthening grassroots sports development has laid the foundation for Nigeria’s bold bid to host the 2030 Commonwealth Games. Under their leadership, the NSC is fostering strategic partnerships and driving innovation in sports administration, they have demonstrated the nation’s readiness to stage an event of such global magnitude.

Beyond the tangible gains, the hosting of the 2030 Commonwealth Games carries profound symbolic value. It would be a moment of unity and pride, a chance for Nigeria to showcase its cultural richness, resilience, and excellence to the world.
As a centenary edition, the Games would stand as a historic milestone not just for the Commonwealth but for Nigeria itself, cementing its place on the global stage as a capable, ambitious, and forward-looking nation.

The gains from hosting the Commonwealth Games can never be undermined or overemphasized. This is Nigeria’s time to step forward and show the world our resilience, and excellence. We call on every Nigerian, across sectors and communities, to support this noble aspiration.

Nigeria’s pursuit of the 2030 Commonwealth Games is a vision for transformation, a blueprint for national development, and a legacy project that will inspire generations to come.

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