President Buhari signs Nigeria’s record $29.8 billion budget into law

Nigeria’s President Muhammadu Buhari signed the country’s record 9.12 trillion naira ($29.8 billion) 2018 budget into law on Wednesday, a presidency spokesman said, capping months of delays now typical for spending plans under the current administration.

Nigeria’s parliament, the National Assembly, passed the budget last month. 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 Reuters in Abuja.