Barring any last-minute change, President Muhammadu Buhari is billed to assent to the 2020 Appropriation Bill, on Tuesday.
It was reliably learnt from National Assembly sources, on Sunday, that the Presidency has invited the Leadership of the Federal Parliament to the budget-signing ceremony, at the Presidential Villa, Abuja.
An Official, who is close to one of the Presiding Officers, disclosed that the President of the Senate, Ahmad Lawan, and Speaker of the House of Representatives, Femi Gbajabiamila, among others, have been invited to witness the signing of the budget.
The source said: “We have a notice from the Presidency, to be at the Presidential Villa, on Tuesday, to witness the signing of the budget. The date and time may change, but I have it on good authority that the ceremony is billed for Tuesday.”
The Senate and the House of Representatives, had on December 5, 2019, concurrently passed the 2020 Appropriation Bill.
The National Assembly had put a clause in the Bill, that the budget should run from January 1, 2020, bringing Nigeria back to a January-December budget cycle.
Of the new total sum of N10,594,362,364,830, the Parliament raised statutory transfers from the proposed N556.7 billion to N560,470,827,235; raised debt service from N2.45 trillion to N2,725,498,930,000; reduced recurrent (non-debt) expenditure from N4.88 trillion to N4,842,974,600,640; and increased development fund for capital expenditure from N2.14 trillion to N2,465,418,006,955.
As part of the N264 billion increment, the National Assembly raised its own budget from N125 billion to N128 billion.
The National Assembly had on Friday, transmitted the national budget to the Presidency.