President Muhammadu Buhari of Nigeria yesterday signed the revised 2020 appropriation bill into law and challenged Ministries, Departments and Agencies to intensify capital project delivery efforts and fully cooperate with the Ministry of Finance, Budget and National Planning to achieve the laudable objectives of the budget.
Buhari who noted with delight that already some progress were being recorded in the implementation of the Appropriation Act 2020 also directed the Ministry of Finance, Budget and National Planning to ensure that all Ministries, Departments and Agencies receive at least 50 per cent of their amended capital budgets by the end of this month.
He said, “All Ministers are to ensure that their Ministries, Departments and Agencies intensify capital project delivery efforts and fully cooperate with the Ministry of Finance, Budget and National Planning to achieve the laudable objectives of the Budget.
“We have, nevertheless, made some progress in the implementation of the Appropriation Act 2020. As at 31st May 2020, the sum of N253.33 billion have been released for the implementation of capital projects.
“The Federal Ministry of Finance, Budget and National Planning is in the process of effecting budgetary releases that will ensure that all Ministries, Departments and Agencies receive at least 50 per cent of their amended capital budgets by the end of this month.
“The Appropriation (Repeal and Amendment) Act, 2020, that I have just signed into law, provides for aggregate expenditures of N10.81 trillion, which is an increase of N216 billion over the level of expenditure initially proposed in the 2020 Appropriation Act.’’
The president added that the 2020 Amended Budget underscored his administration’s firm commitment to effectively contain the spread of COVID-19 and protect the lives and livelihood of all citizens.
He, therefore, expressed the hope that with these budget amendments, as well as recently inaugurated N2.3 trillion Stimulus Programme, his administration was well-positioned to safeguard the economy.
“Considering recent budget implementation challenges, I have directed that efforts be made to ensure effective implementation of the Appropriation (Repeal and Amendment) Act, 2020 in order to realise its laudable objectives,’’ he added.
According to the president, the Minister of Finance, Budget and National Planning will provide further details of the 2020 Amended Budget.
He acknowledged the efforts of the Ministry of Finance, Budget and National Planning, particularly the Budget Office of the Federation, and everyone who collaborated and worked conscientiously to produce the revised budget.
President Buhari also thanked all Nigerians for their “understanding and unflinching support, especially during these difficult times.’’
Addressing State House Correspondents at the end of the event, Senate President Ahmed Lawan, said the National Assembly had to pass the revised budget without delay, in order to ameliorate the sufferings of Nigerians occasioned by the COVID-19 pandemic.
He also expressed the hope that the executive arm of the government would commence effective implementation of the revised budget.
NAN reports that the event was witnessed by Vice-President Yemi Osinbajo, Senate President Ahmed Lawan, Speaker Femi Gbajabiamila, Secretary to the Government of the Federation Boss Mustapha; Chief of Staff to the President, Prof. Ibrahim Gambari.
The Minister of 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 were also at the event.
