President Muhammadu Buhari signed the revised 2020 Budget of N10.8 trillion on Friday, July 10, 2020.
Personal Assistant to the President on New Media, Bashir Ahmad made the announcement.
He said: ”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.”
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