President Muhammadu Buhari on Friday signed the revised N10.8tn 2020 budget passed by the National Assembly in June into law.
The president, who said the budget had to be reviewed downward from the initial N10.59tn to N10.8tn because of the adverse effect of the Coronavirus Disease on the nation’s economy, stressed that the Ministries, Departments and Agencies would receive 15 per cent of their capital allocations at the end of the month.
At the signing ceremony in the Council Chambers of the State House, the Vice President, Yemi Osinbajo; Secretary to the Government of the Federation, Boss Mustapha; and Chief of Staff to the President, Prof. Ibrahim Gambari, were present.
Also present were the Senate President, Ahmad Lawan; Speaker of the House of Representatives, Femi Gbajabiamila, and other principal officers of the National Assembly.
The president’s National Assembly liaison officers, Senator Babajide Omoworare (Senate) and Umar El Yakub (House of Representatives); Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed; and her Minister of State, Mr. Clement Agba; Governor of Central Bank of Nigeria, Godwin Emiefiele; and Director General, Budget Office, Ben Akabueze, were also present.