President Muhammadu Buhari on Friday signed into law the revised N10.8 trillion budget for the year 2020, which passed by the National Assembly in June.
Giving his assent to the revised Appropriation Bill, the President said the 2020 Appropriation had to be revised because of the effect of COVID-19 on the nation’s economy.
He said that ministries, department and agencies (MDAs) would be given 15 percent of their capital allocation by the end of the month (July).
According to Tolu Ogunlesi, his special assistant on digital/new media, the president signed the revised budget into law around 11:04am on Friday.
Present at the brief ceremony were the Vice-President, Yemi Osinbajo, Secretary to the Government of the Federation, SGF, Boss Mustapha and the Chief of Staff to the President, Prof. Ibrahim Gambari.
Senate President, Ahmed Lawan, Speaker Femi Gbajabiamila, Senior Special Assistant to the President on National Assembly Matters, Senator Babajide Omoworare, his counterpart for House of Representatives, Hon. Kawu Sumaila and other principal officers from the National Assembly witnessed the signing.
Also present were the Minister of Finance, Budget and National Planning, Zainab Ahmed; Minister of State, Budget and National Planning, Clement Ikanade Agba, Governor of Central Bank of Nigeria, Godwin Emiefile, and Director General Budget, Ben Akabueze.