Director General, Budget Office of the Federation, Ben Akabueze yesterday disclosed that Federal Government intends to execute only 50 percent of the N2.3 trillion capital component of 2017 budget.
Moreover, he told a gathering of representatives of the media and civil society organisations in Abuja on Wednesday that Federal Government budgets are not supposed to actually take Nigerians in the grassroots into consideration.
Akabueze said already, relevant circulars have been sent to ministries, departments and agencies to roll-over 50 percent of their 2017 capital budgets into the 2018 proposal presently before the national assembly.
While responding to suggestions that government should devise a bottom-up approach to making its annual budget estimates, he said only states and local government budgets are supposed to take the grassroots into consideration.
According to him, Federal Government only works with state governors in designing its budgets.
The Budget boss also explained that complaints against recurring items in budgets are unfounded because such items are executed in bits hence their recurrence.
He cited the examples of computers and motor vehicles, which government is not able to whole supply or replace in a single budget and so, each year, some sums are allocated for them but that by the time they are fully replaced, the first sets are usually due for another round of replacement.
Akabueze also dismissed fears that widely spreading herdsmen attacks are incapable of negatively impacting on economic development because they “are localized”.
He, therefore, expressed confidence that the 3.5 percent projected GDP growth would be met.
The former bank executive declared that his Office’ budget monitoring and evaluation does not cover every line item of capital expenditure as there are over 12,000 projects in the 2017 budget alone.
Justifying the N2.2bn appropriated for Social Media Mining Suite for security agencies and the N338m computer and software acquisition for the Finance Ministry, Akabueze declared they are vital projects that will impact positively on the economy.
Akabueze said the N2.6trillion earmarked for capital expenditure in 2018 was obviously insufficient but that the government could not balloon it beyond what was appropriated
He gave the assurance that the government would ensure that funds are judiciously utilized for the benefit of the citizens.
On why the Service Wide Votes (SWV) represents 30 percent of the entire budget, Akabueze said the appropriation encompasses pensions, funds for special military operations and other vitals.
“In the past, SWV didn’t have the N500 billion social contract fund, it didn’t have N75 billion for Operation Lafia Dole like we have now. These and many more are why the money is large”, he added.
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