President Muhammadu Buhari has signed into law the revised N10.8 Trillion budget for the year 2020 passed by the National Assembly last month. This is in order to keep strictly with the January to December budget cycle.
The President said the budget had to be revised because of the effect of Coronavirus on the country’s economy. He said the ministries, department and agencies will be given 50 percent of their capital allocation by the end of the month.
The signing took place inside the Council Chambers of the State House, Abuja with the Vice-President Professor Yemi Osinbajo, Secretary to the Government of the Federation Boss Mustapha, Chief of Staff to the President Professor Ibrahim Gambari witnessing the ceremony. Senate President Ahmed Lawan, Speaker Femi Gbajabiamila and other principal officers of the National Assembly were also in attendance.
Others were the Minister of 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 Office, Ben Akabueze.
Senior Special Assistant to President on National Assembly Matters (Senate), Senator Babajide Omoworare and his House of Representatives counterpart, Umar El Yakub presented the Budget to the President for his assent.
(Editor: Terverr Tyav)
