President Buhari Signs N10.8trn Revised 2020 Budget

President Buhari has signed the revised 2020 Budget of N10.8 trillion.

Bashir Ahmad, Personal Assistant on New Media to President Buhari, said the President signed the revised budget into law around 11:04am on Friday, July 10.

”President Buhari  today at exactly 11:04am, signed into law, the revised N10.8 trillion budget for the year 2020, the revised budget was passed by the National Assembly, last month.” he wrote

Nigeria had to revise its budget estimates and assumptions following a drop in crude oil prices and the effects of COVID-19 pandemic on global supply chains.

On June 11, the senate increased the total size of the revised budget by N5 billion from N10.805 trillion to N10.810 trillion.