Overview

The document is the official Second Quarter and Half-Year 2020 Budget Implementation Report (BIR) from the Ministry of Finance, Budget and National Planning of Nigeria. It provides a detailed overview of the Federal Government of Nigeria's (FGN) budget performance for the first half of 2020, focusing on the period from January to June. The report is prepared in compliance with Sections 30 and 50 of the Fiscal Responsibility Act (FRA) 2007, which mandates the Budget Office of the Federation (BOF) to produce quarterly budget implementation reports. The 2020 Budget is titled 'Budget of Sustaining Growth and Job Creation' and is anchored on the Economic Recovery and Growth Plan (ERGP) and the Economic Sustainability Plan (ESP), aiming to restore the Nigerian economy to a path of robust, sustainable, and inclusive growth. The macroeconomic environment during this period was severely impacted by the Coronavirus Disease (COVID-19) pandemic, which began in late 2019. The pandemic led to a collapse in crude oil demand and prices internationally, forcing a downward revision of benchmarks in the 2020 Budget. Consequently, aggregate revenue significantly declined, worsening the federal government's fiscal position. Despite these challenges, the government was able to deliver ₦460.98 billion in capital expenditure during the first half of 2020, supporting its reflationary expenditure programme. The report highlights the collaborative efforts of fiscal, financial, and statistical agencies in providing data, and it acknowledges the roles of the Fiscal Responsibility Commission and the National Assembly's Joint Finance Committee in promoting best practices in public financial management. The report is intended for stakeholders and the general public, and it is part of Nigeria's commitment to the Open Government Partnership (OGP), enhancing budget transparency, accountability, and credibility.

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