President Muhammadu Buhari, yesterday, signed into law, the revised N10.8 trillion budget for the year 2020 passed by the National Assembly in June.
In his remarks, President Buhari said the revised Appropriation Act 2020 became necessary in response to recent developments, in particular, the COVID-19 Pandemic.
According to him, “the 2020 Amended Budget, which I have just signed into law today, underscores our Administration’s firm commitment to effectively contain the spread of COVID-19 and protect the lives and livelihood of our people. With these budget amendments, as well as our recently launched N2.3 trillion Stimulus Programme, we are well-positioned to safeguard the economy.
“Considering recent budget implementation challenges, I have directed that efforts be made to ensure effective implementation of the Appropriation (Repeal and Amendment) Act, 2020 in order to realise its laudable objectives.
“All Ministers are to ensure that their Ministries, Departments and Agencies intensify capital project delivery efforts and fully cooperate with the Ministry of Finance, Budget and National Planning to achieve the laudable objectives of the Budget.