Buhari signs revised N10.8trn 2020 budget into law/

President Muhammadu Buhari has finally signed the revised 2020 budget of N10.810 trillion into law.

According to the President's Special Assistant on Digital/New Media, Tolu Ogunlesi, Buhari signed the adjusted appropriation bill on Friday.

The initial budget passed had been revised amid the biting impact of the coronavirus pandemic which affected benchmarks used for its projection.

Buhari, had while commenting on the situation, said “assumptions underlying the 2020 appropriation act are no longer sustainable."

The development comes about two months after the President submitted the revised version of the budget to the National Assembly in May for consideration and consequent approval.

On June 11, the Senate increased the total size of the revised budget by N5 billion from N10.805 trillion to N10.810 trillion.

The Minister of Finance, Zainab Ahmed had on Thursday said changes made to the budget include a revision of the daily crude oil production benchmark to 1.94 million from 2.18 million barrels per day.