- President Muhammadu Buhari has signed the 2020 budget into law
- The president had submitted a budget proposal of N10.33 trillion but it was increased by N260 billion by the National Assembly
- This is the first time a budget would be passed and signed before the budget year
President Muhammadu Buhari has on Tuesday, December 17, signed the N10.59 trillion 2020 appropriation bill into law.
The president disclosed this in a tweet on his Twitter handle.
Buhari who signed the bill on his birthday expressed satisfaction that the National Assembly passed it expeditiously. According to him, Nigeria's federal budget has been restored back to a January-December implementation cycle.
Read his tweet below:
The president had submitted a budget proposal of N10.33 trillion on October 8. However, the budget was increased by N260 billion at the National Assembly.
Meanwhile, this is the first time a budget would be passed and signed before the budget year.
Legit.ng had reported that barring last-minute changes, Buhari would append his signature to the 2023 appropriation bill on Tuesday, December 17, in Aso Villa.
The appropriation bill was transmitted to the president for his assent last week.
Legit.ng had also reported that Buhari on October 8, presented the budget estimate to the joint session of the National Assembly.
The Senate president, Ahmed Lawan, had promised that the lawmakers would pass the budget before the end of the year in order to revert the nation’s back to the January to December budget cycle.
Meanwhile, Legit.ng had previously reported that the National Assembly on Thursday, December 5, passed the 2020 appropriation bill after the report presentation of Barau Jibrin, the chairman of the Senate committee on appropriation.
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