Bauchi may slash 2020 budget by 50%

The Bauchi State Government has said it may likely slash its 2020 budget by 50 per cent in view of the economic challenges facing the state as a result of the coronavirus pandemic.

The 2020 budget of Bauchi State which is N167.2bn was signed by Governor Bala Mohammed in December, 2019.

The Commissioner for Budget and Economic Planning, Dr Aminu Gamawa, disclosed on Wednesday after the State Executive Council meeting that most of the assumptions the government made in the 2020 budget regarding the revenue had been affected by COVID-19, including the prices of crude oil, the major source of income in Nigeria and in Bauchi State.

Gamawa said, “As I speak with you, the price of oil is less than $20 per barrel; this is a very serious revenue crisis for the country and Bauchi State in particular. What that means is that the projection we earlier made that the price of oil will be $57 per barrel is no longer tenable, it is below $20.

“It means that there will be shortage of revenue in the state. My ministry presented a memo highlighting the impact of the Covid-19 pandemic on the economy of Bauchi. Some of the suggestions that we made was that we are going to review our budget and the council approved that the 2020 budget
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