BEVERLY HILLS, December 22, (THEWILL) – The overall performance of the 2019 budget, as at the third quarter of the year stood at 83.95 per cent.
This was revealed in a publication by the Budget Office of the Federation in the Federal Ministry of Finance, Abuja.
The publication, “Citizen’s Guide to Understanding the Federal Government of Nigeria 2020 Budget of Sustaining Growth and Job Creation”, showed the overall performance of the revenue side of the budget was about 81 per cent, against about 86.9 per cent for the expenditure side over the period.
It said out of a total of N6.9 trillion appropriation in the approved 2019 Budget as revenue estimate, the government’s pro-rated revenue figure for the period was N5.2 trillion, against actual aggregate revenue realised of about N4.2 trillion (81 per cent).
It added that out of about N3.7 trillion crude oil revenue estimated in the approved budget for the year, the government realised about N1.4 trillion (about 52 per cent performance).
On the expenditure performance, the publication showed that of the total appropriation of N8.9 trillion, only about N5 trillion was spent as at September 30, 2019, against the prorated budget of about N6.69 trillion.
Details of the expenditures include Statutory transfers N502 billion, out of which N346.97 billion was actually spent; recurrent expenditure of N6.3 trillion, out of which N5 trillion was spent; debt service N2.3 trillion, out of which N1.9 trillion was spent.
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