Buhari signs N8.91trn 2019 budget into law – Independent Observers

Buhari signs N8.91trn 2019 budget into law

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By Danladi Al-Hassam

President Muhammadu Buhari on Monday signed the 2019 Appropriation Bill of N8.91 trillion into law. This was just less than 48 hours to his inauguration for a second term as president.

President Buhari, who signed the budget in the State House, said the budget of N8.916 billion passed by the National Assembly was N90 billion higher than the N8.826 billion proposal he presented on December 19, 2018.

He said the National Assembly members reduced some of the proposals he presented and increased others, adding that they also introduced fresh allocations.

The president, who said the adjustment would make the implementation of the budget difficult, added that he would engage the leadership of the ninth National Assembly to review the adjustments when it resumes.

Present at the ceremony were Yakubu Dogara, the Speaker of the House of Representatives; Danjuma Goje, chairman of the Senate Committee on Appropriation; Udoma Udo-Udoma, Minister of Budget and National Planning; and Ita Enang, the Senior Special Assistant to the President on National Assembly.

Udo Udoma is scheduled to provide details of the signed budget at a public presentation on Tuesday.

The budget is based on estimated crude oil production of 2.3 million barrels a day and the crude oil price of $60 per barrel.

The budget deficit is put at N1.9 trillion.

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