The Minister of Finance, Budget and National Planning,
Hajiya Zainab Ahmed on Wednesday announced that the revenue performance
prorated to third quarter of 2019 is 4.25 trillion. This according to her
represents a performance of 81 per cent while the Gross Domestic Product (GDP)
planned for 2019 was 3.5 per cent and the third quarter GDP performance was
reported as 2.28 per cent.
Ahmed made this disclosure when he briefed State House
correspondents after the Federal Executive Council (FEC) meeting, presided over
by President Muhammadu Buhari, on Wednesday at the Presidential Villa, Abuja.
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According to her, the federal government has so far released
1.2 trillion in capital expenditure, representing a 50 per cent capital
performance for the 2019 fiscal year.
The minister said that on expenditure, the finance ministry
had been able to release all that was required for personnel cost while debt
service was also on course.
“On overhead, we have able to release eight months overhead
for general MDAs and 11 months overhead for some MDAs that we classify as
critical and this include the security services, the Federal Government Unity Colleges as well
as NYSC and Nigerian Correctional Service.
“So, a few agencies that we classify as critical have
received 11 months and we are working on the 12 month over head release for
these categories of MDAs. “So, far as at last week, we have released up to N1.2
trillion in capital expenditure and that is a 50 per cent performance of the
capital for the whole year, 2019.
“And now that the president has assented to the 2020 which
is a major achievement for this government; it is clear that the 2019 budget is
also a six-months budget; so we achieved 50 per cent capital release for 50 per
cent performance of the 2019 budget,’’ she said.
She disclosed that the National Assembly had passed the Finance
Bill of 2019 which would soon be presented to the president for assent. Ahmed
said that her ministry had started the process for the long-term plan, saying
the new long term development plan had prepared a roadmap. “It is going to be
subjected to various stakeholder reviews before we start the actual planning
process,’’ she added. The meeting which lasted almost eight hours was dedicated
to presentation of account of stewardship of the ministers in the last 100 days
of the administration.
[NAN]
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