Overview

The document is the Fourth Quarter and Consolidated Budget Implementation Report (BIR) for the 2018 fiscal year in Nigeria, presented by the Honourable Minister of Budget and National Planning, Sen. Udoma Udo Udoma. The report details the allocation and use of the Federal Government's financial resources, themed "Budget of Consolidation," and aligns with the Economic Recovery and Growth Plan (ERGP) to restore economic growth, diversification, and sustainability. It is mandated by Sections 30 and 50 of the Fiscal Responsibility Act (FRA) 2007 and prepared by the Budget Office of the Federation (BOF) in collaboration with other ministries. Key highlights include a focus on capital expenditure (28% of the budget in 2018, average 31.13% from 2016-2018, up from 16% in 2015), which contributed to GDP growth post-recession in Q2 2017. Challenges include low and unstable revenue inflows constraining capital execution, though non-discretionary expenditures were met. The report emphasizes transparency, accountability, and adherence to the Open Government Partnership (OGP). It also notes delayed budget passage in June 2019 and calls for improved collaboration with the 9th Assembly for timely approvals.

Download