The Federal Government yesterday said that the 2019 Budget achieved 50% performance with the release of N1.2 trillion for capital expenditure.
According to Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, stated this after the eight-hour Federal Executive Council (FEC) meeting at Aso Villa
She said that the revenue performance of the budget stood at 81% as in the third quarter of the year, having realized N4.25 trillion.
Adding that with the passage of the 2020 Budget, is due to go into effect by January 1, and that the 2019 budget had become a six months budget.
However, since the President has assented to the 2020 budget, which is a major achievement for this government, it is clear that the 2019 budget is also a six-month budget.
So we have achieved a 50% capital release for 50% performance of the 2019 budget.