President Muhammadu Buhari has assented to the 2021 Supplementary Appropriation Bill submitted to the National Assembly in June.
The Senior Special Assistant to the President on National Assembly Matters, Umar El-Yakub, disclosed this to State House correspondents after a meeting with the President on Monday in Abuja, the nation’s capital.
The 2021 Supplementary Appropriation Act, which is targeted at the provision of military hardware and COVID-19 vaccines, comes into effect from July 26.
The budget is expected to be funded largely through new borrowing.
President Buhari’s assent to the law facilitates the critical procurement of not just security equipment but the establishment of molecular laboratories, oxygen plants, and procurement of vaccines, particularly the J&J COVID-19 vaccines.
The Supplementary Appropriation Bill passed by the lawmakers amounted to a total of N982.72 billion.