President Muhammadu Buhari, GCFR (r) and Vice-President (Prof.) Yemi Osinbajo, at the Ceremony in the Presidential Villa, Abuja, FCT Photo: Channels TV

President Buhari signs revised Budget 2020 into law

Isola Moses | ConsumerConnect

Nigerian President Muhammadu Buhari has signed the nation’s revised budget of N10.8 trillion for the year 2020 into law.

ConsumerConnect report that Buhari assented to the budget Friday, July 10 in Council Chambers of the Presidential Villa, in Abuja, FCT.

The President, in his address on the occasion, explained that the year’s budget had to be revised as a result of the effect of the distressing Coronavirus (COVID-19) pandemic on the nation’s economy.

According to the President, Ministries, Department and Agencies (MDAs) of the government would be given at least 50 percent of their capital allocation by the end of July.

The timing of the signing of the budget is an attempt to keep with the January to December budget cycle, he stated.

Senator Babajide Omoworare, Senior Special Assistant (SSA) to the President on National Assembly Matters (Senate), and Umar Yakub, SSA to the President on National Assembly Matters (House of Representatives), presented the budget to Buhari for his assent.

Vice-President (Prof.) Yemi Osinbajo, Senate President Ahmed Lawan, and Rt. Hon.  Femi Gbajabiamila, Speaker of the House of Representatives, joined him at the budget-signing ceremony.

Others in attendance included the Chief of Staff to the President, Professor Ibrahim Gambari, and the Secretary to the Government of the Federation (SGF), Boss Mustapha.

The Minister of Finance, Budget and National Planning, Zainab Ahmed; Minister of State (Finance), Clement Agba; Governor of the Central Bank of Nigeria (CBN), Godwin Emiefile; and Director-General of the Budget Office, Ben Akabueze, were also at the Council Chamber to witness the signing of the revised budget.

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