Nigeria’s President Muhammadu Buhari Tuesday signed the 2020 spending plan into law, returning the country to the January-December budget cycle.
It is the first time since 1999 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.
He, however, informed the lawmakers that he looks forward to receiving the Finance Bill for assent in the shortest time.
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President Buhari, therefore, called on the Ministries, Departments, and Agencies (MDAs) to ensure the effective implementation of the 2020 budget.
He expressed confidence in his administration’s ability to finance the 2020 budget.
In view of this, the President directed that the 2021 budget estimates be submitted to the National Assembly by September next year.
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