On July 10, President Muhammadu Buhari signed into law a trimmed budget of $35.4 billion (N10.8 trillion) and directed release of at least 50 per cent of the revised capital expenditure to ministries, departments and agencies (MDAs).
The National Bureau of Statistics (NBS) on July 10 confirmed the nation’s debt burden, reporting that 34.89 per cent of the debt was external and 65.11 per cent domestic.
Abuja,
Nigeria has cut its 2020 national budget following the glut in the global oil market and a crippling huge domestic and external debt of $93.77 billion (N28.63 trillion).
