FG achieved 66.22% capital expenditure performance in 2017 –FRC

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The Fiscal Responsibility Commission (FRC), says the Federal Government achieved 66.22 per cent capital budget performance in 2017 with projects cash- backed up to N1.56 trillion.

The figure was obtained from the FRC 2017 Annual Report and Audited Accounts released on Monday in Abuja.

According to the report, out of a total of N2.17 trillion allocated for capital expenditure in 2017, only N1.439 trillion was utilised by Ministries, Departments and Agencies (MDAs) of government.

The figure leaves a balance of N734.5 billion as either not cash-backed or unutilised.

The report described the performance as impressive compared to the 2016 record which had only N1.58 trillion as capital expenditure and N1.21 trillion cash -backed projects.

“According to the Budget Implementation Report (BIR), released by the Budget Office of the Federation (BOF), as at June 12, 2018, a total of N1.56 trillion was released and cash-backed to MDAs for 2017 capital projects and programmes.

“The sum of N303.46 billion was released in the first batch or warrant, N365.35 billion in the second, N66.42 billion in the third and N19.67 in the fourth batch or warrant.

“Additional releases of N23.30 billion and N784.94 billion as Authority to Incur Expenditure (AIEs), were made.

“The report also revealed that N1.439 billion or 92.12 per cent of the total amount released and cash-backed were utilised by MDAs as at June 12, 2018, which signified the end of the 2017 capital budget implementation.”

The report showed that of the 40 MDAs captured, most of them did not fully get the amount appropriated to them in the budget, while some had releases that were more than appropriated to them.

However, some had releases but did not fully utilise them.

The Ministry of Finance which had an appropriation of N5.181 billion received N9.96 billion and cash backed, but utilised N5.593 billion, while Foreign and Inter-governmental Affairs had N10.29 billion appropriated but got and utilised N16.97 billion cash backed.

The Ministry of Communication Technology was appropriated N8.434 billion, but had N9.624 billion released, cash -backed and utilised, while the Ministry of Budget and National Planning was appropriated N4.092 billion, and had N5.057 billion released, cash backed and utilised.

Some of the MDAs that did not fully utilise their releases include the Ministry of Education which was appropriated N56.81 billion, but had N33.424 billion released and cash -backed but utilised N31.61 billion.

However, while the Ministry of Health was allocated N55.61 billion and receive N52.66 billion cash- backed and utilised N48.85 billion, the Ministry of Trade and Investment, was allocated N81.73 billion but received N39.15 cash backed and only utilised N16. 32 billion.