Overview

The Appropriation (Repeal and Enactment) Act, 2020 is a Nigerian federal law that repeals the previous Appropriation Act, 2020 and re-enacts it to authorize the issuance of funds from the Consolidated Revenue Fund of the Federation. The total sum authorized is ₦10,810,800,872,072 (ten trillion, eight hundred and ten billion, eight hundred million, eight hundred and seventy-two thousand, seventy-two Naira) for the year ending December 31, 2020. The sum comprises: ₦428,032,186,792 for Statutory Transfers, ₦2,951,710,000,000 for Debt Service, ₦4,942,269,251,934 for Recurrent (Non-Debt) Expenditure, and ₦2,488,789,433,344 for contribution to the Development Fund for Capital Expenditure. The Act stipulates that the Accountant-General of the Federation, upon authorization by the Minister of Finance, shall issue warrants to pay sums from the Consolidated Revenue Fund, not exceeding the aggregate amount. The funds are appropriated to heads of expenditure as outlined in the First Schedule. No funds can be released after the end of 2020, and all releases must be for the purposes specified in the First Schedule. There is also a provision for the release of funds for capital projects in the event of shortfalls in specific revenue sources.

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