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Juliana Taiwo-Obalonye, Abuja
President Muhammadu Buhari at exactly 3:37pm on Tuesday signed the 2020 budget into law, thereby restoring the January to December budget circle for Nigeria.
The signing was witnessed by Vice President, Yemi Osinbajo, President of the Senate, Ahmad Lawan; Speaker of the House of Representatives, Femi Gbajabiamila, and principal officers of the National Assembly at the Presidential Villa.
He hinted that he may revert to the National Assembly with a request for a Virement or other relevant amendments following the increase of the budget from N10.33 trillion as proposed by the executive to N10.6 trillion (10,594,362,364,830).
The President further stated being a deficit budget, an appropriate 2020 – 2022 Borrowing Plan will be forwarded to the National Assembly, in due course.
Buhari added that to optimize the desired impact, he has directed the Ministry of Finance, Budget and National Planning and all Federal MDAs to ensure effective implementation of the 2020 Budget.
Details later…
