Nigeria's Senate passes revised 10.8 trillion naira budget based on $28/bbl oil

Nigeria's Senate, the upper chamber of parliament, passed a revised 10.8 trillion naira ($29.92 billion) budget on Thursday.The coronavirus pandemic and a sharp fall in global oil prompted the government to alter its budget. The revised budget, now bigger than the 10.59 trillion naira level previously approved, must be sent back to the president to pass into law after he has agreed to any changes.

Nigeria's Senate, the upper chamber of parliament, passed a revised 10.8 trillion naira ($29.92 billion) budget on Thursday.

The coronavirus pandemic and a sharp fall in global oil prompted the government to alter its budget. The revised budget, now bigger than the 10.59 trillion naira level previously approved, must be sent back to the president to pass into law after he has agreed to any changes. ($1 = 361.0000 naira)