Nigeria President Signs Revised 2020 Budget Into Law
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President of Nigeria Muhammadu Buhari has signed into law, the revised budget of N10.8 trillion for the year 2020.
He signed the budget at about 11:06am yesterday at the Council Chambers of the Presidential Villa in Abuja, the nation’s capital.
In his address, President Buhari disclosed that the budget had to be revised because of the effect of the coronavirus (COVID-19) pandemic on the nation’s economy.
He explained that Ministries, Department, and Agencies (MDAs) of the government would be given at least 50 per cent of their capital allocation by the end of July.
According to President Buhari, the timing of the signing of the budget was to keep with the January to December budget cycle.
The Senior Special Assistant (SSA) to the President on National Assembly Matters (Senate), Senator Babajide Omoworare, and the SSA to the President on National Assembly Matters (House of Representatives), Umar Yakub, presented the budget to him at about 11:03am.
President Buhari was joined at the signing ceremony by the Vice President, Professor Yemi Osinbajo, as well as the Senate President, Ahmed Lawan, and Speaker of the House of Representatives, Femi Gbajabiamila.