© 2019 - International Centre for Investigative Reporting
2019 Budget: Only 32 percent of N2.09 trillion released for capital project implementation
SO far, the Federal Government has released N667 billion for the implementation of capital projects in the 2019 budget, representing 32 percent of the total capital allocation of N2.09 trillion for the year, The ICIR has found.
The document on details of capital performance for ministries, departments, and agencies (MDAs) as at 15th November, obtained from the Office of the Accountant-General of the Federation shows that an additional eight percent would be released by the year ending, raising the release to 40 percent of the budget.
Since the 2020 appropriation is expected to kick off in January, then the 2019 budget may be terminated by the 31st of December.
A breakdown of the amount released to the MDAs indicated that ministries such as Labour and Productivity, Youth Development, Women Affairs, Petroleum Resources, and Finance have had the highest releases in terms of the percentage of the amount released to them as against their appropriated capital budget. These ministries have 108.25 percent, 100 percent, 100 percent, 100 percent, and 87.7 percent respectively of their total capital allocation released as of November 2019.
Ministries that have gotten the least in terms of the amount released compared to their capital allocation are Ministries of Health, Education, Water Resources, Agriculture, and Budget and National Planning with 27.48 percent, 26.63 percent, 11.39 percent, 9.51 percent, and 0.32 percent of their total capital allocation released to them as of November 2019.
As at the end of the 2018 fiscal year, about 72 percent (N2.07 trillion) of capital appropriation (N2.87 trillion) was released to all MDAs.
President Muhammadu Buhari, in his Independence Day speech, had directed the Ministry of Finance, Budget, and National Planning to release N600 billion for capital expenditure in the next three months, with just only a month to go, it is not clear and certain if the Finance Ministry has been able to do that.