Overview

The document is the Second Quarter Budget Implementation Report (BIR) for 2017, published by Nigeria's Budget Office of the Federation. It marks the first time the report covers mid-year budget performance. The foreword by Honourable Minister Sen. Udoma Udo Udoma highlights the evolution of the federal budget as a policy instrument, crediting the 2016 and 2017 budgets for Nigeria's exit from recession. The 2017 Budget, titled 'Budget of Recovery and Growth,' aligns with the Economic Recovery and Growth Plan (ERGP). The report fulfills Sections 30 and 50 of the Fiscal Responsibility Act (FRA) 2007, requiring periodic implementation reports to the Joint Finance Committee of the National Assembly and the Fiscal Responsibility Commission. The preface notes the Budget Office's role in monitoring and evaluation, promoting transparency under the Open Government Partnership. Key achievements include over ₦1.2 trillion in capital budget implementation in 2016, contributing to GDP growth of 0.55% after five consecutive negative quarters. Challenges in Q2 2017 include the extension of the 2016 capital budget to May 5, 2017, which delayed 2017 capital budget execution.

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