BREAKING: Buhari Signs Revised 2020 Budget Into Law

President Muhammadu Buhari on Friday signed the revised 2020 appropriation bill of N10.8 trillion into law.

Naija News reports that Buhari signed the budget at the Presidential Villa.

The President explained, during the signing, that the revision became necessary because of the weakening effect of the COVID-19 pandemic on the nation’s economy.

He also said ministries, department and agencies will be given 50 percent of their capital allocation by the end of the month.

Those in attendance include Vice-President Yemi Osinbajo (SAN), Secretary to the Government of the Federation (SGF), Mr Boss Mustapha, and the Chief of Staff to the President, Professor Ibrahim Gambari.

Senate President, Ahmed Lawan, Speaker Femi Gbajabiamila and other principal officers also witnessed the signing.

The Ministers Finance, Budget and National Planning, Zainab Ahmed; Minister of State Finance, Clement Agba, Governor of Central Bank of Nigeria, Godwin Emiefile and Director General Budget, Ben Akabueze.

This online news platform had earlier reported that the Minister of Finance and Budget Planning, Zainab Ahmed, had revealed that Buhari had fixed September 2020 to present the 2021 budget to a joint session of the National Assembly.

Speaking on Thursday during a meeting with the leadership of the National Assembly, Zainab said that Buhari had given directives for the Ministry to expedite action on next year’s budget estimates to enable him present the 2021 budget by the end of September this year.

She disclosed that Buhari will on Friday (today) sign into law, the revised N10.8 trillion budget for the year 2020 passed by the National Assembly in June.

“This for us is a journey towards ensuring that the progress that we have made as a collective to return the fiscal year to January – December is maintained for the 2021 budget as well.

“The President has directed that we must deliver the budget to the National Assembly by the end of September,” the Finance Minister said.