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Thu, Mar

2019 Budget: N3.39tn Spent So Far

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The Federal Government on Monday said it had spent the sum of N3.39tn within the first six months of this year to finance the 2019 budget.

 

The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, gave the figure during a public presentation of the 2020 budget which was submitted by President Muhammdu Buhari to a joint session of the National Assembly, last week.

She noted that the figure when compared to the pro-rated amount of N4.58tn that should have been released during the six months period, the N3.39tn represents a performance of 76 per cent.

Quoting from the minister, “the total appropriation of N8.92tn, N3.39trn had been spent by 30th June 2019 against the prorated expenditure budget of N4.58tn.

Ahmed said as at 30th September 2019 a total of about N294.63bn had been released for capital projects.

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

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