President Muhammadu Buhari Friday signed the revised N10.8 trillion 2020 budget passed by the National Assembly in June.
The president, who said the budget had to be reviewed downward from the initial N10.59 trillion to N10.8 trillion because of the adverse effects of Covid-19 pandemic on the nation’s economy, said the ministries, departments and agencies (MDAs) would receive 15 per cent of their capital allocations at the end of the month.
At the signing ceremony, which took place in the Council Chambers of the State House, 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.
Also present were the president’s National Assembly liaison officers, Senator Babajide Omoworare (Senate) and Hon. Umar El Yakub (House of Representatives); Ministers of Finance, Budget and National Planning, Mrs. Zainab Ahmed, and her Minister of State, Mr. Clement Agba, Governor of Central Bank of Nigeria (CBN) Godwin Emiefiele and Director General, Budget Office, Ben Akabueze.
