President Muhammadu Buhari, has signed into law the twenty-twenty Appropriation Act of ten point five, nine, four trillion naira.
The signing ceremony is the fourth time since nineteen ninety-nine but the earliest that the appropriation bill is signed in December, paving the way for the return of Nigeria to a January-December budget cycle.
In his remarks, the President commended the patriotic zeal of the National Assembly for the quick passage of the budget, saying he looked forward to receiving the Finance Bill for assent in the shortest time.
He called on the Ministries, Departments, and Agencies to ensure the effective implementation of the twenty-twenty budget, expressing confidence in his administration’s ability to finance the budget.
In view of this, the President directed that the twenty-twenty-one budget estimates be submitted to the National Assembly by September next year.