There are indications that President Muhammadu Buhari may assent to the N10.6 trillion 2020 budget sent to him by the National Assembly. The signing ceremony, according to sources, may take place on Tuesday at the Presidential Villa in Abuja, the nation’s capital.
This comes less than two weeks after members of the Senate and House of Representatives chambers of the National Assembly passed the 2020 Appropriation Bill. During the session on December 5, the lawmakers had raised the total budget estimates from the proposed N10.33 trillion to N10.6 trillion.
President Buhari presented a budget estimate of N10.33 trillion to a joint session of the National Assembly on October 8, based on the Value Added Tax (VAT) of 7.5 per cent up by 2.5 per cent.
If signed into law, it means the administration of Muhammadu Buhari and the National Assembly would have succeeded in returning the country to the January – December budget cycle.