President Muhammadu Buhari on Friday signed into law the revised N10.8 trillion budget for the year 2020. The budget was passed by the National Assembly in June.
President Buhari said the budget had to revised because of the effect of Coronavirus (COVID-19) on the nation’s economy and that he is signing it in order to keep strictly with the January – December budget cycle.
With the signing, Buhari said that all Ministries, Department and Agencies (MDAs) will be given 15 per cent of their capital vote allocation by the end of the month.
The signing of the budget took place inside the Council Chambers of the Presidential Villa, Abuja.
Vice-President, Yemi Osinbajo, Secretary to the Government of the Federation, Boss Mustapha, Chief of Staff to the President, Ibrahim Gambari witnessed the signing.
In addition, Senate President, Ahmed Lawan, Speaker Femi Gbajabiamila and other principal officers of the National Assembly were present.
From the Executive branch, 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 were present.
At11:03 Senator Babajide Omoworare, Senior Special Assistants (SSA) to President on National Assembly Matters (Senate) and Hon. Hon Umar El Yakub, on National Assembly Matters (House of Representatives) presented the budget to the President.
The President was joined by Osinbajo, Lawan, and Gbajamilia to witness the signing of the budget at exactly 11:06.