Buhari Signs 2019 Budget Into Law

President Muhammadu Buhari, yesterday, signed the 2019 Appropriation Bill of N8.92 trillion into law.

President Buhari, before assenting to the budget, lamented that the insertion of new projects by the National Assembly, which were not budgeted for would have adverse affect on realisation of objectives of Economic Recovery and Growth Plan, ERGP, of the administration.

But Speaker of the House of Representatives, Yakubu Dogara, said it was the National Assembly that should decide how federally generated receipts were expended and that the National Assembly had taken that decision.

Buhari had said he will engage the leadership of the Ninth Assembly when constituted to address some of the concerns with the budget.

He said: “Of course, some of these changes will adversely impact our programmes, making it difficult for us to achieve the objectives of Economic Recovery and Growth Plan, ERGP.

“Although I will be signing this bill, it is my intention to continue to engage the National Assembly to ensure we deliver on our promises.”

Recall that the National Assembly had earlier passed the 2019 budget of N8.92 trillion, against the N8.83 trillion presented by Buhari on December 18, 2018.

The increase of N9 billion in the budget was to cater for security challenges in the country, packages for lawmakers and support for Zamfara State.

But President Buhari faulted the increase in the budget, saying: “I would like to take this opportunity to thank the leadership of the National Assembly and, indeed, all the distinguished and honourable members for all the hard work they put in to get us here.

“You will all recall that in December 2018, I presented our 2019 budget proposal with the theme ‘Budget of Continuity’. Our goal was to use this budget to move the economy further on the path of inclusive, diversified and sustainable growth.

“Back then, I proposed a total expenditure of N8.83 trillion to the National Assembly for appropriation, targeting strategic and impactful projects and initiatives.

“However, the 2019 budget I will be signing into law today (yesterday) provides for aggregate expenditures of N8.92 trillion. This is an increase of N9.33 billion over our submission.

“This increase reflects changes introduced by the National Assembly. In some areas, expenses we proposed were reduced, while in other areas they were increased. There were also certain areas where new additions were introduced into the budget. More details of the approved budget will be provided by the Minister of Budget and National Planning.

“Of course, some of these changes will adversely impact our programs, making it difficult for us to achieve the objectives of the Economic Recovery and Growth Plan, ERGP.”