Overview

The 2019 First Quarter Budget Implementation Report (BIR) provides an overview of Nigeria's budget execution for January to March 2019. It is presented by the Honourable Minister of Budget and National Planning, Sen. Udoma Udo Udoma, who highlights that the 2019 Budget, titled 'Budget of Continuity', aims to sustain inclusive, diversified growth and reduce poverty. The report fulfills Sections 30 and 50 of the Fiscal Responsibility Act (FRA) 2007, requiring the Budget Office of the Federation (BOF) to submit implementation reports to the National Assembly and Fiscal Responsibility Commission (FRC). The 2019 Budget parameters are based on the 2019-2021 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), derived from the Economic Recovery and Growth Plan (ERGP) 2017-2020. The preface notes challenges in the 2018 fiscal year due to revenue and external balance strains, but macroeconomic conditions improved. The 2019 Budget prioritizes ongoing capital projects to stimulate growth and job creation. However, first-quarter implementation faced difficulties due to a challenging macroeconomic environment and late budget passage.

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