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2020 budget may be signed on Tuesday




Indications emerged on Sunday that President Muhammadu Buhari might sign the 2020 budget into law on Tuesday.

Reports gathered from National Assembly sources suggest the presidency had sent invitations to National Assembly leaders for the budget-signing ceremony scheduled to hold at the presidential villa.

A National Assembly official, close to one the presiding officers, confirmed that Ahmed Lawan, the Senate President; Femi Gbajabiamila, the Speaker of the House of Representatives and a host of other lawmakers had been given invitation to attend the event.

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According to him: “We have a notice from the Presidency to be at the Presidential Villa on Tuesday to witness the signing of the budget. The date and time may change but I have it on good authority that the ceremony is billed for Tuesday.”

On 5th December 2019, the parliament had approved the 2020 budget, which it increased from the proposed N10.33 trillion to N10.594 trillion. Out of the total N10.594 trillion, the National Assembly increased statutory transfers from N556.7 billion to N560.471 billion and augmented debt service N2.45 trillion to N2.725 trillion. It however slashed recurrent (non-debt) expenditure from N4.88 trillion to N4.843 trillion and raised development fund for capital expenditure from N2.14 trillion to N2.465 trillion.

The National Assembly equally increased its own budget from N125 billion to N128 billion.

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