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.

    Head of Data Unit, International Centre For Investigative Reporting, ICIR.
    Shoot me a mail at [email protected]

    Join the ICIR WhatsApp channel for in-depth reports on the economy, politics and governance, and investigative reports.

    Support the ICIR

    We invite you to support us to continue the work we do.

    Your support will strengthen journalism in Nigeria and help sustain our democracy.

    If you or someone you know has a lead, tip or personal experience about this report, our WhatsApp line is open and confidential for a conversation

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here


    Support the ICIR

    We need your support to produce excellent journalism at all times.

    - Advertisement

    Recent

    - Advertisement