Overview

This document is the Budget Implementation Report (BIR) for the second quarter and half-year of 2018, published by the Ministry of Budget and National Planning of Nigeria. The report analyzes budget performance for the period, with the 2018 budget titled 'Budget of Consolidation,' aligned with the Economic Recovery and Growth Plan (ERGP). It fulfills Sections 30 and 50 of the Fiscal Responsibility Act (FRA) 2007, requiring quarterly reports from the Budget Office of the Federation (BOF) to the National Assembly's Joint Finance Committee and the Fiscal Responsibility Commission (FRC). The foreword by Senator Udoma Udo Udoma, Honourable Minister of Budget and National Planning, highlights the budget's role in delivering government objectives, including restoring robust, sustainable, and inclusive growth. The preface notes that the BOF conducts quarterly monitoring and evaluation per the FRA 2007, aiming to enhance budget transparency, accountability, and credibility under Nigeria's Open Government Partnership (OGP) commitment. Key challenges include revenue shortfalls due to dependence on the volatile oil sector and late passage of the budget. Despite this, ₦1,439.97 billion capital expenditure was delivered under the 2017 budget by end of Q2 2018, contributing to sustained positive GDP growth from Q2 2017. The extension of the 2017 capital budget to June 12, 2018 allowed continued reflationary spending. The report acknowledges contributions from the Budget Monitoring and Evaluation Department, National Monitoring & Evaluation Department, relevant MDAs, FRC, and the National Assembly's Joint Finance Committee.

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