President signs the 2020 Budget into law – Nigeria

President Muhammadu Buhari signed the 2020 Budget into law on 17 December 2019 within two months after the first presentation at the National Assembly. The 2020 Budget shows a total expenditure of ₦10.59 trillion while the total revenue is ₦8.31 trillion creating a deficit of ₦2.18 trillion. Federal Government will allocate more expenditure to provide essential social services like security, infrastructure, and affordable healthcare.

The swift passage of the 2020 Budget aimed at sustaining growth and job creation is commendable. We expect annual budgets in Nigeria to follow this pattern henceforth. To read our initial article on the 2020 Budget, please click here.