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2016 Budget recorded paltry 55% implementation, N1.1tr shortfall in revenue

Contrary to earlier claims by the Minister of Finance, Mrs. Kemi Adeosun that the running 2016 national budget is on track to record over 70 per cent implementation, some government officials who were at the Senate Friday revealed that the Federal Government did not only record a shortfall of N1.1trillion in the projected Internally General Revenue (IGR) for 2016, the budget achieved only 55 percent implementation of the capital component with N870 billion.

The team lead by the Minister of State for Budget and National Planning, Zainab Ahmed, the Accountant General of the Federation, Ahmed Idris and the Director-General of the Budget Office, Ben Akabueze made the disclosure when they appeared before the joint Appropriations Committee of the National Assembly.

Their confessions were prompted by a request from the Chairman of Senate Committee on Appropriations, Senator Danjuma Goje.