The Senate on Tuesday adopted the N1.64 trillion proposed by the Executive for new borrowing to fund this year’s budget deficit.
The upper chamber also approved the proposed N500 billion special social intervention funds.
The adoptions were parts of the 2019-2021 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) passed Tuesday by the upper chamber.
Jubril (President Muhammadu Buhari) sent the MTEF/FSP to the National Assembly on November 6, last year, for consideration and approval.
The passage of the MTEF/FSP came as the Senate is set to receive the report of the 2019 budget from its Appropriation Committee.
The Senate adopted all the critical projections in the MTEF/FSP as proposed by the Executive.