30% implementation of extended 2020 budget achieved

23 Feb 30% implementation of extended 2020 budget achieved

The federal government has achieved 30% implementation of the capital component of the 2020 budget extended to March 31, 2021, according to Finance Minister Zainab Ahmed.

She spoke on Monday at an interactive session with the leadership of the National Assembly.

The Speaker of the House of Representatives, Femi Gbajabiamila had observed that said since it was not a usual thing to extend the life span of a budget, there was a need for them to be shown visible and identifiable results the executive has achieved with the extension granted the capital component of the 2020 budget from December 31, 2020 to March 31, 2021.

“This special session of the leadership of National Assembly interfacing with you is meant for overseeing the extension because feelers from the various MDAs on the implementation is not all that cheering.

The minister, in her response, said although as at the end of January this year, only 30% implementation of the extended capital component of the budget was achieved, since all the funds have been released and most of the agencies have accessed them, remarkable percentage implementation will be achieved before March 31st this year.

When the Senate President asked her whether 100% Implementation performance will be achieved or not by the MDAs before the March 31 deadline, she said series of factors will determine that.

“Such factors include all the MDAs accessing the funds that had already been released about three weeks ago, procurement processes and capacity of agencies to utilize the funds within the time frame,” she said.

She said that as at December 2020, 89% of the capital component of the budget had been achieved from the N1.74 trillion released.