BREAKING: Buhari signs N10.8trn revised budget into law

Nigeria’s President, Muhammadu Buhari on Friday signed the revised 2020 budget of N10.8 trillion into law.

The National Assembly had passed the budget in June and forwarded it to the president for assent.

Buhari, in signing the budget said this became imperative because of the weakening effect of the COVID-19 pandemic on the nation’s economy.

According to the president, Ministries, Department and Agencies, MDAs would be given 50 percent of their capital allocation by the end of the month.

Nigeria’s 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, which took place inside the presidential villa.

Also at the signing were 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.

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