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Juliana Taiwo-Obalonye, Abuja
The Federal Government has achieved 50 percent budget performance in 2019 with the release of N1.2 trillion capital expenditure.
Minister of Finance, Budget and National Planning, Zainab Ahmed, made the disclosure at the end of over seven-hour Federal Executive Council meeting presided over by President Muhammadu.
“The ministry Finance, Budget and National Planning has 11 mandate areas. First of all in terms of revenue performance, the revenue performance curated to third quarter of 2019 is N4.25 trillion and that represents a performance of 81 percent, that is nine months curated not fully year.
“The GDP that we planned for 2019 was 3.5 percent and the third quarter GDP reported as 2.28 percent.
“On expenditure we have been able to release all that is required for personnel, so the personnel services is on course and debts services is also on course.
“On overheads we have been able to release eight months for general ministries, department and agencies (MDAs) and 11 months for some MDAs classified as critical and we are working on the 12th month. This include the security service, federal government unity colleges as well as the National Youth Service Corps (NYSC) and the Prisons.
“So far as at last week, we have released upon N1.2 trillion in capital expenditure and that is 50 percent performance for the whole year 2019. And now that Mr. President has assented you the 2020 budget which is a major achievement for this government, it is clear that the 2019 budget is also a six months budget. So we have achieved 50 percent capital release for a 50 percent performance of the 2019 budget, he said.
