President Muhammadu Buhari has signed the 2018 Appropriation Bill into law, as promised on Tuesday.
However, he lamented that "the logic behind the constitutional direction that budgets should be proposed by the executive" was "not given much regard" by the lawmakers.
He signed the bill into law on Wednesday in Abuja, at the Presidential villa.
In November 2017, Buhari passed a proposed budget of N8.612 trillion to the National Assembly for deliberation.
Six months later, in May 2018, he received the appropriation bill from lawmakers, who blamed the delay on the failure of Ministries, Departments and Agencies (MDAs) to submit a summary of their proposed budgets.
“When I submitted the 2018 budget proposals to the national assembly on November 7, 2017, I had hoped that the usual legislative review process would be quick, so as to move Nigeria towards a predictable January-December financial year,” Buhari said.
“I am however concerned about some of the changes the National Assembly has made to the budget proposals I presented. The logic behind the constitutional direction that budgets should be proposed by the executive is that it is the executive that knows and defines its policies and projects.
“Unfortunately, that has not been given much regard in what has been sent to me.
“Notwithstanding the delay this year, I am determined to continue to work with the National Assembly towards improving the budgeting process and restoring our country to the January-December fiscal cycle.”