The economic recession which hit the nation in 2016 also adversely affected the execution of the 2016 budget as several Ministries, Departments and Agencies (MDAs) could not implement their capital budgets to the letter and spirit of the 2016 Appropriation Act enacted by the National Assembly.
The thrust of the 2016 budget was the recovery and revitalisation of the economy to take it out of recession, but the activities of most MDAs showed that it is a far cry from what is envisaged.
According to a finding by Economic Confidential, an online publication, the Ministry of Budget and National Planning which had the highest allocation of N1.14 trillion was topmost in this defect. With a capital vote of N404.86 billion and recurrent expenditure of N142.40 billion, there is nothing visible on ground to show for such lion share.
According to an official of the ministry who craved anonymity, the ministry’s department of monitoring and evaluation have been busy inspecting nearly completed projects initiated by the Goodluck Jonathan administration while those initiated by the current administration are yet to take off, despite being captured in the 2016 budget act.
The investigation further showed that other Ministries who have shown indolence to the implementation of the capital projects for 2016 budget include the Ministry of Interior with a whopping N513.65 billion and N61.71 billion for capital projects and a recurrent expenditure of N451.94bn without any appreciable progress made.