By Tosin Olatokunbo
President Muhammadu Buhari has on signed into law, the revised N10.8 trillion budget for the year 2020 passed by the National Assembly in June.
Present at the Presidential Villa during the signing, were the Vice-President, Yemi Osinbajo, Secretary to the Government of the Federation, SGF, Boss Mustapha and the Chief of Staff to the President, Prof. Ibrahim Gambari.
Senate President, Ahmed Lawan, Speaker Femi Gbajabiamila, Senior Special Assistant to the President on National Assembly Matters, Senator Babajide Omoworare, his counterpart for House of Representatives, Hon. Kawu Sumaila and other principal officers from the National Assembly also witnessed the signing.
Recall that President Buhari, on December 17, 2019 signed a budget estimate of N10.50 trillion passed by the National Assembly.
But the fall in crude oil prices, occasioned by the effects of the corona virus pandemic led to the review of the budget, which was eventually presented to the president for his signature by top officials of the Assembly led by Ahmad Lawal today.
While signing the revised budget, at the Presidential Villa, Abuja, the President Buhari said the federal government had no option than to review the budget in the face of current realities.
He also directed the Ministry of Finance to make sure all ministries, department and agencies are moblilised with15 percent of their capital allocation by the end of the month.
Zainab Ahmed, the Minister of Finance, Budget and National Planning, Minister of State, Budget and National Planning, Clement Agba, Governor of Central Bank of Nigeria, Godwin Emiefile and Director General Budget, Ben Akabueze were also present when the president append his signature on the document.
