All Progressives Congress Chieftain Moshood Salvador on Tuesday advised the Federal Government to employ federal character in spending the nation’s 2020 Budget of N10.59 trillion.
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Salvador, a former Member of the House of Representatives, told the News Agency of Nigeria (NAN) in Lagos that the strategy would promote equity.
NAN reports that President Muhammadu Buhari on Dec. 17, 2019, in Abuja, signed into law, the 2020 Appropriation Bill of N10,594,362,364,830.
The budget was increased from N10.33 trillion to N10.594 trillion by the National Assembly.
A total of N4,842,974,600,640 of the budget is a recurrent expenditure, while capital expenditure stands at N2,465,418,006,955 and fiscal deficit, N2.28 trillion.
The budget maintained Nigeria’s daily oil production rate at 2.18 million per barrel but increased the oil benchmark price to 57 dollars per barrel against the 55 dollars proposed by the executive.
The signed 2020 Budget retained the inflation rate at 10.81 percent and exchange rate at N305 to a dollar as proposed by the executive.
Salvador called on leaders in all the zones of the federation to defend what should come to their zones.
“ I advise the Federal Government to employ federal character in the spending.
“Leaders should stand up and defend what comes to their zones.
“That is what I will advise for the purpose of equity,” Salvador, a former Peoples Democratic Party Chairman in Lagos State, said.
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He said that the budget should address the needs of Nigerians, adding that priority attention should be given to agencies that would genuinely take care of the masses.
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