President Muhammadu Buhari Signs 2016 Budget into Law

President Muhammadu Buhari has finally signed the 2016 Budget into law, Channels Television reports.

Vice President, Professor Yemi Osinbajo, and the chairmen of the National Assembly appropriation committees, Senator Danjuma Goje, and Honourable Abdulmumin Jibrin were among those present for the signing ceremony.

President Buhari assented to the budget after the National Assembly submitted a clean copy to him. The president withheld after discovering some “grey areas” in the Appropriation Bill.

The President’s official Twitter account announced just before the budget was signed.

President Buhari is about to sign the 2016 budget. The signing will happen at the Presidential Villa.

— President Buhari (@NGRPresident) May 6, 2016

The Federal Government had announced yesterday that it intends to 34 strategic priority programmes and projects with the 2016 Budget.

These include a capital spend minimum of 30% annually, an appropriate and predictable exchange regime by the end of 2016, increased low interest lending rate of 9%, self-sufficiency in tomato paste in 2016 and rice production by 2018. It also plans to increase local production of maize, soya beans, poultry and livestock and to stop import.