Overview

The document is the 2016 First Quarter Budget Implementation Report of the Federal Republic of Nigeria, prepared by the Budget Office of the Federation under the Ministry of Budget and National Planning. It provides a comprehensive assessment of the government's fiscal performance in the first quarter of 2016, focusing on the 'Budget of Change' theme aimed at stimulating the economy through infrastructure development, job creation, economic diversification, and social intervention programs. The report highlights challenges in revenue collection, particularly from non-oil sources falling short of projections. On the expenditure side, recurrent expenditures were on track, but capital expenditure faced delays due to the extension of the 2015 capital budget implementation to March 31, 2016, and the late passage of the 2016 Budget, leading Ministries, Departments, and Agencies (MDAs) to prioritize ongoing 2015 projects while making procurement arrangements for 2016. The report emphasizes transparency and accountability, referencing the Fiscal Responsibility Act 2007, and acknowledges contributions from the National Assembly's Joint Finance Committee and the Fiscal Responsibility Commission. It was signed by Honourable Minister Sen. Udoma Udo Udoma and Director General Ben Akabueze.

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