President Muhammadu Buhari has signed the 2019 Appropriation bill into law.
The National Assembly had earlier passed the 2019 Budget of N8.92trillion, up from the N8.83trillion presented by President Buhari on December 18 last year.
The N8.9 trillion ($29 billion) budget is based on estimated crude production of 2.3 million barrels a day, an assumed oil price of $60 per barrel and an exchange rate of N305 to the dollar.
The planned deficit of N1.9 trillion represents 1.37% of the country’s GDP.
The increase of N90billion in the budget, it was learnt, is to adequately provide for security challenges in the country, packages for lawmakers and support for Zamfara State.
But signing the budget on Monday, the President faulted the increase in the budget, which introduced new projects.
The Senate President, Bukola Saraki, however arrived late for the signing ceremony. He arrived the President’s office by 11.17am
The Deputy Senate President, Ike Ekweremadu, who represented him at the ceremony, had disclosed that Saraki was coming straight to the Villa from the airport