Nigeria’s Senate has passed the record N10.59 trillion 2020 budget. The budget passed by Nigeria's parliament assumes a deficit of 1.52 per cent of the estimated Gross domestic product (GDP) – representing about N2.18 trillion to be financed through foreign and domestic borrowing. Chamberlain Peterside, CEO of Xcellon Capital Advisors joins CNBC Africa to unpack the budget.
Senator Smart Adeyemi, has been officially sworn-in as the lawmaker representing Kogi West Senatorial District, President of the Senate, Ahmed Lawan, administered the oath of office during Wedneday's Plenary. He defeated Senator Dino Melaye in last month's rerun election and the following supplementary poll.
The Senate on Tuesday began consideration of a bill to amend Nigeria’s Electoral Act. The Bill which scaled Second Reading is For an Act to Amend the Electoral Act (No.6), 2010. According to the Sponsors, Senators Ovie Omo-Agege (APC, Delta Central) and Abubakar Kyari (APC, Borno North), the bill which has 26 clauses seeks to amend the Electoral Act to strengthen and protect Nigeria’s democracy, as well as “cure specific mischief plaguing our (Nigeria’s) elections and electoral processes."