President of the Senate, Ahmad Lawan, has said that the passage of the 2020 budget by the National Assembly and its prompt assent by President Muhammadu Buhari will have significant impact on the country’s economy starting from January next year.
Lawan stated this on Friday shortly after the Senate passed a N278.3 billion budget for the Federal Capital Territory (FCT) for 2020 fiscal year.
The Senate President said the inflow of disbursed funds as a result of Nigeria’s return to the January – December budget cycle will see to the injection of resources by government starting in January 2020.
“One thing stands out clear; this ninth Senate is prepared to change Nigeria for the better. For passing the 2020 budget before the end of December, for the President to sign the budget before the end of December, and for the budget to start taking effect from 1st January, definitely the Nigerian economy will see significant changes, because the inflow of the disbursement of funds by government will be an injection of some resources into the economy.
“This is something that was not available previously. We believe that the executive has a role to ensure that the 2020 budget is implemented fully as much as our resources can accommodate,” Lawan said.
Speaking on the FCT budget passed by the National Assembly, the Senate President said, “As the State Assembly of the FCT, we have discharged our responsibility. The next thing is for FCT to ensure that it implements the budget.