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Buhari Signs 2018 Budget into Law

President Muhammadu Buhari has signed the record 9.12 trillion naira ($29.8 billion) 2018 Appropriation Bill into law presidency spokesman said, capping months of delays now typical for spending plans under the current administration.

Buhari signed the bill on Wednesday at the Presidential Villa in Abuja, the Federal Capital Territory.

The National Assembly had earlier passed the budget on May 16, over seven months after the president submitted the proposals to the lawmaker.

The total sum is higher than the 8.6 trillion naira spending plan presented to parliament by Buhari in November because lawmakers increased the assumed oil price to $51 per barrel from $45.

Buhari “has signed as approved by National Assembly, but will seek amendments with National Assembly later,” the spokesman told journalists in Abuja.

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