President Muhammadu Buhari has signed the 2019 appropriation bill of N8.92 trillion into law.
The event took place on Monday at the Conference room of his office, within the Presidential Villa, Abuja.
In a brief remark before signing the bill, the President said the adjustments made to the budget by the legislature would make it difficult for government to realise its set objectives but it will do its best to make life better for Nigerians.
PHOTOS: President @MBuhari signs 2019 Budget into Law at the State House; 27th May 2019. Present are VP @ProfOsinbajo; SP @bukolasaraki; Speaker @YakubDogara, among others. #AsoVillaToday— Presidency Nigeria (@NGRPresident) May 27, 2019
📷: @BayoOmoboriowo pic.twitter.com/AgBiMDubBo
He said: “Of course some of these changes will adversely impact our programmes making it difficult for us to achieve the objectives of the Economic Recovery and Growth Plan.
“Although I will be signing this bill, it is my intension to engage the National Assembly to ensure we deliver on our promises. I will therefore be engaging with the leadership of the 9th National Assembly as soon as they emerge to address some of our concerns with the budget.”
The Nigerian leader pledged that his administration will look at how to improve the budget process in order to speed up its consideration as well as return the country to the January to December fiscal year timetable.
He appreciated the Minister of Budget and National Planning, his Finance counterpart, the budget office of the federation and all other stakeholders that played key roles in producing the document.
Similarly, President Buhari thanked the leadership and members of the National Assembly for the effort they put in passing the 2019 bill.
Speaking earlier, Minister of Budget and National Planning, Udo Udoma stressed that work on every budget is a collective endeavour between the Executive and the Legislature thus; he thanked the leadership of the National Assembly for their cooperation and support.
Udoma also thanked the Vice President, Professor Yemi Osonbajo, Ministers and all members of the Economic Management Team for the various roles they played in producing the budget.
“Because it is a collective endeavour, without their support, it would have been impossible to produce a budget,” he said.
The Executive had proposed a budget of N8.83 trillion in December 2018, but the National Assembly, after careful consideration, passed an increased budget of N8.92 trillion, which has now been signed into law by the President, as required by the country’s constitution.
Timothy Choji I VON