Overview

The document is the Fourth Quarter and Consolidated Budget Implementation Report (BIR) for 2017 from the Budget Office of the Federation, Ministry of Budget and National Planning in Nigeria. The foreword by Honourable Minister Sen. Udoma Udo Udoma highlights the budget as a key policy instrument, essential for Nigeria's exit from economic recession. The 2017 Budget, themed '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 reports to the Joint Finance Committee of the National Assembly and the Fiscal Responsibility Commission, and public dissemination. The Minister acknowledges the Budget Monitoring and Evaluation Department and relevant MDAs for their work, and appreciates the Fiscal Responsibility Commission and National Assembly's Joint Finance Committee. The preface explains that the BOF conducts quarterly monitoring and evaluation per FRA 2007, producing this consolidated report to foster transparency and credibility under the Open Government Partnership (OGP). Despite challenges like the extension of the 2016 capital budget to May 5, 2017, the government delivered ₦1,439.97 billion Capital expenditure under the 2017 budget, contributing to positive GDP growth after five quarters of negative growth. The report details budget execution in the challenging fourth quarter, impacted by the delayed start of the 2017 capital budget.

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