…Thanks Nigerians for support, understanding
President Muhammadu Buhari has challenged ministries, departments and agencies (MDAs) to intensify capital project delivery efforts and fully cooperate with the Ministry of Finance, Budget and National Planning to achieve the laudable objectives of the revised 2020 Budget.
The president gave the challenge while signing the revised 2020 appropriation bill into law at the Presidential Villa, Abuja, on Friday.
Buhari also directed the Ministry of Finance, Budget and National Planning to ensure that all MDAs receive at least 50 per cent of their amended capital budgets by the end of this month.
He noted with delight that already some progress was being recorded in the implementation of the Appropriation Act 2020.
“All Ministers are to ensure that their Ministries, Departments and Agencies intensify capital project delivery efforts and fully cooperate with the Ministry of Finance, Budget and National Planning to achieve the laudable objectives of the Budget.
“We have, nevertheless, made some progress in the implementation of the Appropriation Act 2020. As at May 31, 2020, the sum of N253.33 billion had been released for the implementation of capital projects.
“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.
“The Appropriation (Repeal and Amendment) Act, 2020, that I have just signed into law provides for aggregate expenditures of N10.81 trillion, which is an increase of N216 billion over the level of expenditure initially proposed in the 2020 Appropriation Act,” he said.
The president said further that the 2020 Amended Budget underscored his administration’s firm commitment to effectively contain the spread of Covid-19 and protect the lives and livelihood of all citizens.
He, therefore, expressed the hope that with these budget amendments, as well as recently inaugurated N2.3 trillion stimulus programme, his administration was well-positioned to safeguard the economy.
“Considering recent budget implementation challenges, I have directed that efforts be made to ensure effective implementation of the Appropriation (Repeal and Amendment) Act, 2020 in order to realise its laudable objectives.”
According to the president, the Minister of Finance, Budget and National Planning will provide further details of the 2020 Amended Budget.
He acknowledged the efforts of the finance ministry, particularly the Budget Office of the Federation, and everyone who collaborated and worked conscientiously to produce the revised budget.
President Buhari also thanked all Nigerians for their “understanding and unflinching support, especially during these difficult times.”
Addressing State House Correspondents at the end of the event, the President of the Senate, Ahmed Lawan, said the National Assembly had to pass the revised budget without delay, in order to ameliorate the sufferings of Nigerians occasioned by the Covid-19 pandemic.
He also expressed the hope that the executive arm of the government would commence effective implementation of the revised budget.