President Muhammadu Buhari has cited the need to cushion the harsh socio-economic realities occasioned by the outbreak of coronavirus, as well as meeting the health challenges posed by the situation, as reasons for reviewing the 2020 Budget.
The signing was witnessed by the Vice-President, Professor Yemi Osinbajo ; Secretary to the Government of the Federation , Mr. Boss Mustapha; and the Chief of Staff to the President, Professor Ibrahim Gambari. The president said the 2020 Amended Budget underscores his administration’s firm commitment to effectively contain the spread of Covid-19 and protect the lives and livelihood of our people.
Buhari revealed that the Federal Ministry of Finance, Budget and National Planning is in the process of effecting budgetary releases that will ensure that all ministries, departments and agencies receive at least 50 per cent of their amended capital budgets by the end of this month. “It is therefore imperative to adjust our expected revenues, considering the widespread disruptions in domestic and international economic activities due to the Covid-19 pandemic, and the containment measures taken in response thereto.
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