President Muhammadu Buhari has signed the 2019 appropriation bill recently passed by the National Assembly into law.
The signing took place today at the State House.
The president proposed a budget of N8.83 trillion to the National Assembly on December 18, 2018 but after the legislative process, the lawmakers passed the budget of N8.91 trillion, on April 30, 2019.
The Speaker of the House of Representatives, Yakubu Dogara; Chairman of the Senate Committee on Appropriation, Danjuma Goje; the Minister of Budget and National Planning, Udoma Udo-Udoma; and the Senior Special Assistant to the President on National Assembly Matters, Ita Enang were present during the ceremony.
Highlights of the 2019 budget as approved by the National Assembly include the capital expenditure of N2.09trillion, recurrent expenditure of N4.05trillion, statutory transfers of N502billion, fiscal deficit of N1.9trillion, and special intervention of N500billion.
The lawmakers also approved debt service of N2.25trillion out of the figure, N1.7trillion was approved for domestic debts, while the sum of N433billion was provided for foreign debts.