Breaking: President Muhammadu Buhari Signs 2019 Budget

Buhari Signs 2019 Budget Into Law

President Muhammadu Buhari on Monday at the State House in Abuja, signed the 2019 Nigerian national budget of ₦8.91 trillion into law.

Naija News understands National Assembly leaders including President of the Senate, Bukola Saraki and Speaker of the House of Representatives, Yakubu Dogara were in attendance for the signing ceremony.

JUST IN: President Muhammadu Buhari has signed the 2019 Budget into law.

— Bashir Ahmad (@BashirAhmaad) May 27, 2019

Recall President Buhari had earlier in December 2018, proposed a budget of ₦8.83 trillion to the National Assembly, but the Christmas, New Year as well as the general election breaks, delayed the passage till April 2019.

The lawmakers finally passed an ₦8.91 trillion national budget on April 30, after increasing it by about ₦90.3billion.

A breakdown of the 2019 budget as approved by the National Assembly include the capital expenditure of ₦2.09trillion, recurrent expenditure of ₦4.05trillion, statutory transfers of ₦502billion, fiscal deficit of ₦1.9trillion, and special intervention of ₦500billion.

A debt service of ₦2.25trillion was also approved by the lawmakers. Of this, Channels TV reports ₦1.7trillion was approved for domestic debts, while the sum of ₦433billion was provided for foreign debts.