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Economy

FG implements 79% of 2018 budget – Minister

According to a document obtained by Daily Trust from the SA to the minister of Budget and National Planning, James Akpandem,

The federal Government said its 2018 budget performance rate was 79 percent, according to a statement from spokesperson of the minister of budget, James Akpandem.

It said of the total appropriation of N9.12 trillion, N7.24 trillion had been spent by 31 December, 2018.

The statement also said that debt service and the implementation of non-debt recurrent expenditure, notably payment of workers’ salaries and pensions were on track.

While he noted capital releases only commenced after the signing of the 2018 Budget on 20 June, 2018, but as at 11th January 2019, a total of N1.226 trillion had been released for capital projects.

He said spending on capital projects has been prioritized in favour of critical ongoing infrastructural projects in the power, roads, and rail and agriculture sectors.

Source: By Latifat Opoola

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