By Mathew Dadiya, Abuja
Ministries, Departments and Agencies of Federal Government would receive 50 percent of their budgetary allocations by July ending as President Muhammadu Buhari on Friday, assented to the N10.8 trillion reviewed 2020 budget Act.
The release of the funds to the MDAs is aimed at adhering to the implementation of January – December budget cycle.
Signing the revised N10.8 trillion 2020 budget into law, passed by the National Assembly in June, President Buhari ordered for full implementation of the budget.
The budget was compelled to review the budget downward due to the effect of Covid-19 on the nation’s economy.
The signing took place inside the Council Chambers of the State House, Abuja.
The Vice-President, Yemi Osinbajo, Secretary to the Government of the Federation, Boss Mustapha Chief of Staff to the President, Ibrahim Gambari witnessed the signing.
Senate President, Ahmed Lawan, Speaker Femi Gbajabiamila and other principal officers witnessed the signing.
The Ministers Finance, Budget and National Planning, Zainab Ahmed; Minister of State Finance, Clement Agba, Governor of Central Bank of Nigeria, Godwin Emiefile and Director General Budget, Ben Akabueze.
At 11:03am, Senator Babajide Omoworare, Senior Special Assistant (SSA) to President on National Assembly Matters (Senate) and Hon. Hon Umar El Yakub, on National Assembly Matters (House of Representatives) presented the budget to the President, while the Osinbajo, Lawan, and Gbajamilia joined him to witness the signing the budget at exactly 11:06