By Chidinma Chukwu, Abuja.

The National Assembly has received the revised 2020 budget of N10.52 trillion.

The budget was initially cut to N10.276 trillion following the outbreak of Covid 19 that resulted in the fall of global oil prices.

After oil prices began to rise ,the federal executive council increased the budget to N10.52 trillion, an increase of N318 billion.

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The National Assembly has also received a fresh loan request of $5.513billion from President Muhammadu Buhari that will help finance the revised 2020 Budget, fund priority government projects and state government support.

President Buhari intends to seek the 5.5billion loan from International Monetary Fund, $3.4billon; World Bank, $1.5 billion ; African development bank, $500 million and Islamic development Bank, $113 billion .

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