Overview

The document is the Third Quarter Budget Implementation Report (BIR) for 2021, published by the Budget Office of the Federation under the Ministry of Finance, Budget and National Planning. It details the distribution and utilization of public resources by Ministries, Departments, and Agencies (MDAs) for the period, serving as an accountability tool and assessment of the Economic Sustainability Plan's objectives. The 2021 Budget, titled 'Budget of Economic Recovery and Resilience,' is based on the 2021-2023 Medium Term Expenditure Framework and Fiscal Strategy Paper derived from the Economic Sustainability Plan, which bridges the Economic Recovery and Growth Plan (2017-2020) and the successor National Development Plan (2021-2025). The report is mandated by Sections 30 and 50 of the Fiscal Responsibility Act, 2007, requiring quarterly submissions to the National Assembly's Joint Finance Committee and the Fiscal Responsibility Commission, and dissemination to the public. The foreword by Mrs. (Dr) Zainab Shamsuna Ahmed, Honourable Minister of Finance, Budget and National Planning, highlights the collaborative work of the Budget Office and MDAs. The preface notes that the third quarter of 2021 faced weakened global economic recovery due to the third wave of COVID-19, affecting domestic conditions with gradual improvement due to government measures. Fiscal performance was below target due to revenue shortfalls and rising expenditure pressures. Actual aggregate revenue was ₦3.49 trillion, 70.08% of the prorated target, while actual expenditure was ₦10.21 trillion against a prorated budget of ₦9.38 trillion, an 8.85% increase. The report emphasizes budget transparency and accountability as part of Nigeria's commitment to the Open Government Partnership.

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