FG: We ‘ll Ensure 2018 Budget Is Executed Effectively

The Federal Government says in spite of the delay in signing the 2018

Appropriation Bill into law, it is determined to ensure effective

execution.

 

Minister of Budget and Planning, Sen. Udoma Udo Udoma, gave the

assurance on Thursday in Abuja at the presentation of the approved

2018 Budget of Consolidation.

 

The N9.12 trillion 2018 budget was signed by President Muhammadu

Buhari on Wednesday after it was raised from N8.61 trillion by the

National Assembly.

 

Giving a breakdown of the allocations, Udoma said capital expenditure

would gulp 31.5 per cent of the total expenditure at N2.87 trillion,

adding that this was more than N2.36 trillion allocated in 2017.

 

Recurrent non-debt spending would rise from N2.99 trillion in 2017 to

N3.51 trillion in 2018.

 

Udoma said the Federal Government planned to spend N2.01 trillion on

debt servicing (21 per cent of budget), adding that provision to

retire maturing bond to local contractors increased by seven per cent

from N177 billion in 2017 to N190 billion for the current fiscal year.

 

He said this was in view of the ambitious plan to liquidate all

contractor debt arrears of the Federal Government going back several

years.

He said that the Ministry of Power, Works and Housing had the highest

allocation with N715 billion for both recurrent and capital

expenditure, Ministry of Interior would get N577 billion while

Ministry of Defence was allocated N576 billion.

 

Ministry of Education was allocated N542 billion, Ministry of Health

N356 billion, Ministry of Transportation, N267 billion and Ministry of

Agriculture and Rural Development, N203 billion.

 

Others are Ministry of Water Resources, N155 billion, Office of the

National Security Adviser, N123 billion, Ministry of Industry, Trade

and Investment, N118 billion, and Ministry of Youth and Sports

Development,  N116 billion.

 

He added that the Office of the Secretary to the Government of the

Federation was allocated N112 billion.

 

Udoma, while highlighting some of the projects to be carried out in

the year, said infrastructure, security and human development were the

focus of the government.

 

He said N530.8 million would be used in constructing the terminal

building at Akanu Ibiam International Airport,  Enugu , and N8.32

billion used for the construction of the second runway of Nnamdi

Azikiwe International Airport, Abuja.

 

He said that while N162.28 billion was scheduled as counterpart

funding for railway projects, N9.4 billion was set aside as

counterpart fund for the Mambilla hydro-power project.

 

He said that N344 billion was allocated for the construction and

rehabilitation of several roads nationwide and N26.7 billion allocated

to National Housing Program.

 

For health, he said N55.15 billion had been allocated to the

implementation of the National Health Act, while N300 million had been

set aside for health emergencies and contagious diseases outbreaks.

 

For agriculture, Udoma said over N25.1 billion was allocated for

promotion and development of value chain across more than 30 different

commodities to ensure food security.

 

He also said that N5.30 billion was allocated for National Grazing

Reserve Development.

 

The minister said that procurement of ammunition of various types and

calibers would cost N5.3 billion, while construction of new military

barracks in five geo-political zones would gulp N2.3 billion.

 

For mines and steel, he said N644 million would be used for the

establishment of mining regulatory agency for the sector and N450

million used to reclaim abandoned mine sites.

 

For education, Udoma said the Universal Basic Education Commission was

allocated N109 billion and N9.2 billion allocated for various

scholarship allowances.

 

He added that N65 billion was allocated for re-integration of

transformed ex-militants under the Presidential Amnesty Program, while

N45 billion was allocated for the Federal Initiative for North-East

(Pilot counterpart funding contribution).

 

Udoma said that the goal of the 2018 budget was to consolidate on the

gains recorded so far by the administration and ensure that all

Nigerians benefitted from the economic progress.

 

In his address, Mr Ben Akabueze, Director-General, Budget Office of

the Federation, said the Federal Government would work with the

National Assembly to ensure that the nation returned to the January to

December budget cycle.

 

He expressed the hope that the 2018 budget would be the last to be

signed in the middle of the budget year.

 

He said that in furtherance to the Federal Government’s commitment to

Open Government Partnership, it was desirous of improving citizens’

access and understanding of the budget.