Setting the facts right about the revised 2020 FGN budget

By Ben Akabueze

1. Statutory transfers to UBEC (Basic Education) and BHCPF (Basic Health) are set by LAW at 2% and 1% respectively of the Consolidated Revenue Fund (CRF). Therefore, when the Covid-19 pandemic eroded the CRF, the budgetary provisions were automatically adjusted in accordance with the applicable laws.

2. The provision for renovation/retrofitting of the National Assembly (NASS) Complex in the revised budget is N9.25bn, not N27bn as being bandied around. The initial provision of N37bn in the 2020 Appropriation Act for this was cut by 75% due to the impact of Covid-19 on government revenues.

Please always check the website of the Budget Office of the Federation – www. budgetoffice.gov.ng – or use the Citizens Portal on this website to obtain accurate information about the FGN budget.

-Akabueze is the Director General of Budget Office