Overview

The document is the 'Appropriation Act 2020 (Amendment) Bill' of Nigeria, which seeks to amend the original Appropriation Act of 2020. It authorizes the issuance of a total sum of N10,810,800,872,072 (approximately Ten Trillion, Eight Hundred and Ten Billion, Eight Hundred Million, Eight Hundred and Seventy-Two Thousand, Seventy-Two Naira) from the Consolidated Revenue Fund of the Federation for the fiscal year ending December 31, 2020. The allocation is broken down as follows: N428,032,186,792 for statutory transfers; N2,951,710,000,000 for debt service; N4,942,269,251,934 for recurrent (non-debt) expenditure; and N2,488,789,433,344 for capital expenditure (contribution to the Development Fund). The bill outlines procedures for fund releases, virement (transfer of funds between projects with National Assembly approval), correction of errors via corrigendum, and handling of excess revenue above the oil price benchmark. It also includes provisions for information disclosures by the Ministry of Finance, certification by the Bureau of Public Procurement (due process), and a power for the Economic and Financial Crimes Commission (EFCC) and the Nigerian Financial Intelligence Unit (NFIU) to utilize 10% of revenue from penalties and sanctions. The bill expires after 2020 and is subject to the Constitution of the Federal Republic of Nigeria, 1999.

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