President Muhammadu Buhari, on his 77th birthday, has set the second best record for signing the budget law before January, since Nigeria returned to democracy 20 years ago.
Former President Olusegun Obasanjo’s administration set the record in 2000 for the 2001 budget which was passed in a record one month 12 days. He followed this up in 2006 for the 2007 Budget with
took two months and 16 days to be passed.
Obasanjo presented it on October 6 of 2006 and it was asserted to after passage on December 22.
But Buhari has toppled Obasanjo’s second record. The President signed the bill into law in two months and nine days after presentation on October 8.
N10,594,362,364,830 (Ten trillion, Five hundred and Ninety-Four Billion, Three Hundred and Thirty Naira) will be spent in the 2020 fiscal year.
The breakdown shows that N560,470,827,235 is for statutory transfers, N2,725,498,930,000 for Debt Service; N4,842,974,600,640 for Recurrent (Non-Debt) Expenditure; and N2,465,418,006,955 for Contribution to the Development Fund for Capital Expenditure for the year ending on December 31, 2020.
The budget has a Fiscal deficit of N2.2 trillion and Deficit/Gross Domestic Product (GDP) of 1.52 percent.
The budget is predicated on Crude Oil production of 2.18mbpd, just as proposed by the Executive; Oil Price benchmark of 57 dollar per barrel as against US$55 proposed by the Executive, Exchange Rate of N305 to US$1; Gross Domestic Product (GDP) and Inflation Rate of 2.93 percent and 10.81 percent respectively.
Capital Expenditure for Ministries, Departments and Agencies of Government (MDAs) for the 2020 fiscal year are: Ministry of Defence N116,181,290,730; Ministry of Foreign Affairs, N7,608,141,474; Ministry of Information and Culture, N7,555,803,233; Ministry of Interior, N34,035,825,302; Office of the Head of the Civil Service of the Federation, N1,722,796,040; Ministry of Police Affairs, N15,959,986,864; Ministry of Communication Technology, N5,919,002,554; and Office of the National Security Adviser, N27,418,469,323
Meanwhile, the country’s prominent citizens continue to congratulate Buhari on his 77th birthday. Former President Dr. Goodluck Jonathan has felicitated with him in a goodwill message he personally signed.
He thanked God for protecting President Buhari and prayed for divine guidance over him as he carries out the task of nation-building.
The message also said: “I congratulate you and your family as you mark your 77th birthday.
“I give thanks to God for keeping you alive and strong till this time and pray He blesses you with more glorious years filled with joy, peace and honour.
“As you celebrate, my family and I rejoice with you and wish you sound health, divine guidance and success in your daily task of nation building.”
Senate President Ahmad Lawan wrote: “I
heartily felicitate with His Excellency, President Muhammadu Buhari, on the occasion of his 77th birthday on Tuesday, 17th December, 2019.
“On behalf of the ninth National Assembly, I join Nigerians across and outside our great country in congratulating Mr President on his good health and exemplary life that has been devoted to the service of God and country.
“Mr President, your consistency in personal and public matters, your commitment to the cause of the downtrodden masses and the purposeful leadership that you have provided for our country in the last four years are a permanent source of inspiration and have already secured your prominence in the history of Nigeria.
“Your personal integrity and commitment to people-oriented policies and programmes have endeared you to millions of your compatriots who amply demonstrated their appreciation by enthusiastically renewing your mandate at the polls at the 2019 general elections.
“Your Excellency, your good health and the very trajectory of your life are a clear testimony to the benevolence of Almighty Allah to you, your family and our country.
“May Allah continue to guide and support you in your patriotic mission to make Nigeria a better place for all its citizens and residents.
“Your Excellency, it is the desire of the ninth National Assembly to continue to work together for the betterment and prosperity of our people and the unity, peace and progress of our dear country.
“I rejoice with the first family on this auspicious occasion and pray that Allah, the Most Beneficent and the Most Merciful, will continue to imbue Mr President with wisdom and good health so that he can continue to provide good leadership for Nigeria in the coming years.”
Speaker of the House of Representatives Rep Femi Gbajabiamila in a congratulatory message wished the President continued good health, wisdom and God’s protection.
“I wish to felicitate with the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, President Muhammadu Buhari, on his 77th Birthday.
“Mr President Sir, your journey on earth has been full of blessings not only to the members of your immediate family but to Nigeria and Nigerians as a whole.
“Today, under your able leadership, Nigeria is on track towards achieving the dreams our founding fathers had for this country.
“On our part as legislators who are partners in progress, we will continue to support you so that you will do only those things that will benefit Nigerians.
“On this day, I pray Almighty Allah to continue to grant you good health, wisdom, and protection as you pilot the affairs of this great nation,” the Speaker said.
All Progressives Congress National Leader, Asiwaju Bola Tinubu, in his own message said Buhari had done much to correct the national direction and to place Nigeria on the pathway to our better future.
In a special statement on the president’s birthday signed by his Media Adviser, Tunde Rahman, Asiwaju Tinubu said:
“Joining the rest of the country, I extend my best wishes to President Muhammadu Buhari on his birthday. This special day gives us an opportunity to personally thank you for the contributions you have made to the development of our nation. Throughout your public life you have shown yourself to be a man of hard work, dedication and principle.
“You have exhibited that rare combination of a simple and modest lifestyle coupled with an ambitious and grand vision for our nation. As president, you have done much to correct our national direction and to place us on the pathway to our better future.
“Your administration has been one of momentous achievement and the realization of hope and progress for our country and our party, the All Progressives Congress.
“A man of political courage, you have taken bold decisions that those before you knew were needed but avoided taking. You have made Nigeria safer by making the violent terrorists and wrongdoers so much weaker that they will ultimately fall due to your efforts protecting our national security.
“Your fight against corruption has been historic and it has reflected your great personal honesty. In reviving our economy, you continue to take initiatives that draw on the immense talent and creativity of our people.
“You are truly the president for this moment in our national journey. You have our full support. As the leader of our party, you have shown great statesmanship by taking action and giving counsel that strengthens the APC and its pursuit of greater internal democracy and openness.
“By expressing your desire that the party continues to be strong and vibrant even after your tenure, you have demonstrated your commitment to an enduring political legacy to buttress the patriotic legacy of your years of governance as president of our beloved republic.
“As usual, you have shown rare bravery and exemplary resilience in all you do. Your hand is on the plough and we know you will continue to press on. Be assured, the people of this nation are with you as you are for them.
“I wish you, Mr. President, so many more years of good health and fine achievement. Happy Birthday Mr. President!”