President Muhammadu Buhari has signed the revised 2020 budget into law.
According to Tolu Ogunlesi, his special assistant on digital/new media, the president signed the revised budget into law around 11:04am on Friday.
Nigeria had to revise its budget estimates and assumptions after a drop in crude oil prices and the COVID-19 pandemic affected global supply chains.
“Assumptions underlying the 2020 Appropriation Act are no longer sustainable,” Buhari said.
Zainab Ahmed, the minister of finance, budget and national planning, told lawmakers on Thursday that the president would sign the budget on Friday.
On June 11, the senate increased the total size of the revised budget by N5 billion from N10.805 trillion to N10.810 trillion
More to follow…
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