FG releases N1.2tn for capital projects

The Federal Government released a total sum of N1.23tn to 17 ministries for the implementation of capital projects aimed at advancing development and infrastructure initiatives as of September 30, 2023, findings by The PUNCH have shown.

the N21.8tn 2023 budget and the N2.17tn supplementary appropriation from June 30 to December 31, 2024.

This was after both chambers extended the implementation period for the capital component of the budget from December 31, 2023, to March 31, 2024, along with the 2023 supplementary budget passed in November 2023 last year.

Although stakeholders including opposition parties faulted the need to run four budgets concurrently, the Spokesman for the President, Bayo Onanuga, in an interview with The PUNCH, said the budget cycle was extended to December to ensure that the capital projects contained in the appropriations were not abandoned.

Defending the elongation of the budget cycle, Onanuga explained, “It is because it (the 2023 supplementary budget) is running simultaneously with the 2023 budget. Some elements of that budget were not implemented. That is why they are moving it forward to be implemented.

“They have already got the provisions meant for them. So, they are trying to make sure they implement them based on the provision of that budget. It means the 2023 and 2024 budget will run concurrently.’’

Meanwhile, the budget office has stated that the majority of projects implemented were constituency projects that are not within the mandate of the MDAs.

It said the practice is disturbing because these projects are prioritised over the projects in line with the mandate of the MDAs.

The report read in part, “Most MDAs’ capital projects are dominated by constituency projects. This practice is disturbing because although most of the projects have no direct bearing with the mandate of the host agencies, they are prioritized over the projects in line with the mandate of the MDAS.”

It further recommended that ‘Considering the preponderance of constituency projects that are not within the mandate of the MDAs, it is important to emphasise and prioritise only capital projects that are in line with the mandate of the various MDAs during budget preparation and implementation.”