Overview

The document is the Fourth Quarter and Consolidated 2022 Budget Implementation Report (BIR) prepared by the Budget Office of the Federation under the Ministry of Finance, Budget and National Planning in Nigeria. The report provides comprehensive information on the allocation and utilization of public resources by Ministries, Departments, and Agencies (MDAs) during the fourth quarter and the entire year of 2022. It serves as a tool for accountability and assessment of government objectives as outlined in the National Development Plan (NDP) 2021-2025. The 2022 Budget, titled 'Budget of Economic Growth and Sustainability', was based on key parameters from the 2022-2024 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), focusing on economic diversification, MSME growth, infrastructure investment, security, governance, education, health, poverty reduction, and reducing disparities. The report is mandated by Sections 30 and 50 of the Fiscal Responsibility Act, 2007, requiring quarterly submissions to the National Assembly and the Fiscal Responsibility Commission. The foreword, signed by Honourable Minister Dr. Zainab Shamsuna Ahmed, highlights the collaborative efforts of the Budget Office and MDAs in producing the report. The preface notes global economic challenges in Q4 2022, including a slowdown due to the Russia-Ukraine war and inflationary pressures, while domestic macroeconomic conditions improved due to government measures. Fiscal performance fell short of targets: actual aggregate revenue was N7.76 trillion (77.80% of prorate target), and actual expenditure was N14.79 trillion (81.52% of the N18.14 trillion budget), indicating a decrease of 18.48% from the budgeted amount. The report emphasizes ongoing improvements in budget preparation, execution, monitoring, and evaluation.

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