President Buhari Signs N10.8trn Revised 2020 Budget

President Muhammadu Buhari, on Friday, signed the revised 2020 Budget of N10.8 trillion, passed by the National Assembly in June, into law.

While signing the bill into law, the President explained that the revision became necessary because of the weakening effect of the COVID-19 pandemic on the nation’s economy.

He also said ministries, department and agencies will be given 50 per cent of their capital allocation by the end of the month.

The signing ceremony, which took place inside the State House, was witnessed by the 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.

The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed; Minister of State Finance, Clement Agba; Governor of Central Bank of Nigeria, Godwin Emiefile and Director-General of the Budget Office, Ben Akabueze.