President Muhmmadu Buhari has signed the revised 2020 Budget of N10.8 trillion. It was passed into law by the National Assembly in June.
In signing the bill into law, the President explained the revision became necessary because of the effect of the coronavirus which has ravaged the the nation’s economy.
He said ministries, departments and agencies will be given 50 percent of their capital allocation by the end of the month.
The signing took place inside the State House, and 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 were in attendance.
The 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 also there.
The budget was presenting to Buhari by Senator Babajide Omoworare, Senior Special Assistant (SSA) to President on National Assembly Matters (Senate) and Umar El-Yakub, on National Assembly Matters (House of Representatives).