The same amount will be paid every September 1 for the next 4 years.
The ceremony was attended by at least 20 African Heads of State and Government and their representatives.
He said his administration will leave a legacy of major development projects across the country.
Last year the Hague-based court awarded $30 million in reparations.
Tens of thousands of people cheered as William Ruto was sworn in as Kenya's president
The report alleged that oil cartels are funding elections in the country.
Buhari congratulated Ekiti State Governor Kayode Fayemi on his recent election as President of the Forum of Regions of Africa.
He threatened to expose those in government behind crude oil bunkering.
According to the news outlet, price controls remain the biggest reason the boom was ruining the public purse.
Nigeria currently generates about $450 million from the export of the commodity which had been described as too low for…