President Muhammadu Buhari will on Friday sign the revised 2020 budget into law following its passage by the National Assembly last month, according to a statement issued on Thursday evening by the Presidency in a tweet on its handle.
“President Buhari will tomorrow, Friday July 10, 2020, sign into law the revised 2020 budget passed by the National Assembly last month,” the presidency said in the tweet.
The Federal Government was forced by the realities brought on the global economy by the coronavirus pandemic to cut down the 2020 budget by over N320 billion.
It proposed a new budget of N10.27 trillion against the N10.59 trillion passed by the National Assembly.
The Senate had on June 11th, passed the revised 2020 budget of N10,805,544,664,642, a day after the House of Representatives did the same.
In the budget, the sum of N2,488,789,433,344 is for capital expenditure; N4,942,269,241,984 for recurrent non-debt expenditure; N422,775,979,362 for statutory transfer, and N2,951,710,000,000 for debt servicing.
