Analysis of Federal Government of Nigeria’s 2018 Budget

Introduction President Muhammadu Buhari, on Wednesday 20 June 2018, signed the 2018 Appropriation Bill of the Federal Government of Nigeria (FGN) into law. The final assent came 7 months after presenting the Appropriation Bill to a joint session of the National Assembly on 7 November 2017. It would be recalled that the President presented a Budget of ₦8.61 trillion to the lawmakers in 2017. However, this figure has increased by ₦508 billion (6%) to ₦9.12 trillion, due to changes made by the National Assembly. While the President appeared to have signed the Budget amidst concerns of delays, reduction of allocation to certain propriety projects and addition of new projects by the National Assembly, he reiterated his commitments to speedy execution of the Budget. However, these concerns may affect full implementation of the Budget. 2018 Budget at a Glance With an aggregate expenditure of ₦9.12 trillion, proposed revenue of ₦7.17 trillion … Continue reading Analysis of Federal Government of Nigeria’s 2018 Budget