President Muhammadu Buhari has finally signed the 2021 budget and finance bill into law.
The President assented to the appropriations bill on Thursday at the Council Chambers of the State House in Abuja.
This comes ten days after both chambers of the National Assembly passed the N13.5trn budget and three days after it was transmitted to the President for assent.
Ijaw News had earlier reported that President Buhari presented the proposed 2021 budget to the National Assembly on the 8th of October.
The National Assembly also raised the estimate of N13.082 trillion to N13.588 trillion an increase of N505 billion from the proposed figures presented by the Buhari administration.
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The budget signing is to restore the January to December budget cycle.
The budget, tagged budget of economic recovery and resilience and, is critical for the legacy of this administration in ensuring security, economic growth, and implementing health and emergency measures to counter the spread of the COVID-19 pandemic according to the president.
Buhari also promised that the budget will address the challenges caused by the pandemic on the economy.
On revenue generation, the president warned heads of revenue-generating agencies to remit early and threatened sanctions for defaulters.