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Tag: 2020 revised budget

  • JUST IN: Buhari signs N10.8trn revised 2020 Budget

    JUST IN: Buhari signs N10.8trn revised 2020 Budget

    President Muhmmadu Buhari, on Friday, signed the revised 2020 Budget of N10.8 trillion, passed by the National Assembly in June, into law.

    While signing the bill into law, the President explained the revision became necessary because of the weakening effect of the COVID-19 pandemic on the nation’s economy.

    He also said ministries, department and agencies will be given 50 percent of their capital allocation by the end of the month.

    The signing ceremony, which took place inside the State House, was witnessed by the Vice-President Yemi Osinbajo (SAN), Secretary to the Government of the Federation (SGF), Mr Boss Mustapha, and the Chief of Staff to the President, Professor Ibrahim Gambari.

    Senate President, Ahmed Lawan, Speaker Femi Gbajabiamila and other principal officers also witnessed the signing.

    The Ministers Finance, Budget and National Planning, Zainab Ahmed; Minister of State Finance, Clement Agba, Governor of Central Bank of Nigeria, Godwin Emiefile and Director General Budget, Ben Akabueze.

    At 11:03am, Senator Babajide Omoworare, Senior Special Assistant (SSA) to President on National Assembly Matters (Senate) and Hon. Umar El-Yakub, on National Assembly Matters (House of Representatives) presented the budget to the President, while the Osinbajo, Lawan, and Gbajamilia joined him to witness the signing the budget at exactly 11:06

    Details shortly…

  • Reps increase 2020 revised budget to N10.805 trillion

    Reps increase 2020 revised budget to N10.805 trillion

    The House of Representatives on Wednesday increased the revised 2020 budget sent to it by President Muhammadu Buhari to N10.805 trillion.

    The President had presented a revised 2020 appropriation of N10.59 trillion to the National Assembly for approval.

    The budget as approved by the House indicate that the budget for the National Assembly was retained at N128 billion as contained in the original 2020 budget passed in December 2019 as against the N115 billion contained in the revised budget.

    Considering the budget on the floor of the House, the lawmakers included N4 billion vote to address the greviances of Resident Doctors who are threatening to embark on industrial action, thereby increasing the figure submitted to the House by the Finance Committee.