Senate Worried over Low Performance of 2018 Budget - THISDAYLIVE via thisdaylive
Deji Elumoye and James Emejo in Abuja
According to him, “Before the budget defence exercise, we have done oversight functions and noticed that releases for capital projects were quite low. Most of the agencies that we visited received between 10 and 15 per cent releases. He added: “Overhead releases have not been up to 60 per cent in many cases and even most agencies received just for six months for the 2018 financial year, which is not good enough.
“The revenue being generated yearly by the Federal Inland Revenue Service, the Nigerian Customs Service and other collection agencies are even higher than what we are talking about; so, why are we experiencing poor releases?” he queried. The minister, in a document he presented to the Senate committee, a copy of which was made available to THISDAY yesterday by the minister’s spokesman, Mr. James Akpandem, further explained that “Of the total appropriation of N9.12 trillion, N7.24 trillion had been spent by December 31, 2018. This represents 79 per cent performance.
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