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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