Budget Performance Report Ministry of Budget and Planning 2018
Explore the second quarter budget performance report for the year 2018 prepared by the Ministry of Budget and Planning. This detailed report covers the approved budget, recurrent revenue performance, analysis, and breakdowns. Gain insights into the state's financial performance during this period.
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2nd QUARTER BUDGET PERFORMANCE REPORT FOR YEAR 2018 PREPARED BY MINISTRY OF BUDGET AND PLANNING
SECOND QUARTER BUDGET PERFORMANCE REPORT FOR SECOND QUARTER BUDGET PERFORMANCE REPORT FOR YEAR 2018 YEAR 2018 Preamble Preamble The Ministry of Budget and Planning is, among other key functions, statutorily responsible for the preparation of quarterly Budget Performance Report. This function provides the state with a credible tool for assessing transparency, accountability and efficiency in governance. This document, therefore, Performance for the second quarter of 2018. The total Approved Budget package for the State in the period under review was N151,677,854,494. Out of this, the sum of N37,919,463,624 was for the second quarter estimates i.e. from April-June, 2018. Of this amount, N16,016,690,308 was earmarked for recurrent services while N21,902,503,316 was for capital projects/programmes conveys the Budget
RECURRENT REVENUE PERFORMANCE RECURRENT REVENUE PERFORMANCE The total recurrent revenue estimates for second quarter (April. June) 2018 was N22,808,696,915 (Internally Generated Revenue + Federation Accounts), However, the total sum of N20,691,635,867 was realized, representing 90.72% performance. Out of this amount realized, N2,842,700,900 came from Internally Generated Revenue Sources while N17,848,934,967 came from Federation Account. The breakdown of the actual revenue collected with the percentage performance during the period under review is presented in the table & graph below.
A : RECURRENT REVENUE PERFORMANCE S/NO S/NO DETAILS DETAILS APPROVED APPROVED ESTIMATES ESTIMATES 2018 2018 APPROVED APPROVED ESTIMATES ESTIMATES April April June. 2018 2018 ACTUAL REVENUE ACTUAL REVENUE AS AT AS AT 31/06/18 31/06/18 % PERFORMANCE % PERFORMANCE (E/DX100) (E/DX100) June. A A B B C C E E F F D D 8,415,385,636 2,842,700,900 33.78 1. Internal Revenue 33,661,542,542 8,364,914,277 14,597,363,418 174.51 2. State share from the federation Account 33,459,657,108 3,061,891,035 2,748,300,207 89.76 3 Value Added Tax(VAT) 12,247,564,141 Excess Crude 1,333,375,338 5,333,501,351 5.73 4 76,354,366 Exchange Differentials 1,038,583,528 4,154,334,112 41.11 5 426,916,976 Budget Augmentation 594,547,101 2,378,188,404 0.00 6 0 Total Total 20,691,635,867 91,234,787,658 22,808,696,915 90.72
Recurrent Revenue Analysis 16,000,000,000 APPROVED ESTIMATES April June. 2018 D ACTUAL REVENUE AS AT 31/06/18 E 14.6b 14,000,000,000 12,000,000,000 10,000,000,000 Billions NGN 8.4b 8.4b 8,000,000,000 6,000,000,000 4,000,000,000 3.0b 2.8b 2.7b 2,000,000,000 1.3b 1.0b 0.6b 0.43b 0.08b 0.0b 0 Internal Revenue State share from the federation Account Value Added Tax(VAT) Excess Crude Exchange Differentials Budget Augmentation Recurrent Revenue Items
From the above table, the figures in red represent low performing budget lines. It can thus be seen that, the State Government needs to do more to improve on its internally generated revenue, as there is still a heavy reliance on allocation from the Federation Accounts for her development programmes. It is, therefore, imperative for the State to explore additional revenue sources, to boost its Internally Generated Revenue. Arising from this, strategies are being put in place to deepen IGR collections while the effectiveness of the current efforts will be reviewed in the third quarters for improved performance.
RECURRENT EXPENDITURE The April-June 2018) was N16,016,690,308 while the actual for the same period was N10,335,836,665 representing 64.53% performance. The 2018 Approved Budget for the second quarter recurrent expenditure and the breakdown of the actual expenditure with the percentage performance are shown in the table below: approved recurrent expenditure for the period under review ( C: DETAILS OF RECURRENT EXPENDITURE PERFORMANCE S/NO S/NO DETAILS DETAILS APPROVED APPROVED ESTIMATES 2018 ESTIMATES 2018 APPROVED APPROVED ESTIMATES April ESTIMATES April June. 2018 June. 2018 D D ACTUAL ACTUAL EXPENDITURE EXPENDITURE AS AT AS AT 31/06/2018 31/06/2018 E E 4,294,683,383 % PERFORMANCE % PERFORMANCE (E/DX100) (E/DX100) C C F F A A B B 1. Personnel Cost including Statutory Office holders / pension and gratuities 7,063,824,517 28,255,298,068 60.80% 2. Overhead Costs 8,952,865,791 35,811,463,165 6,041,153,282 67.48% 16,016,690,308 64,066,761,233 10,335,836,665 64.53% Total Total
Recurrent Expenditure Analysis ACTUAL EXPENDITURE AS AT 31/06/2018 E APPROVED ESTIMATES April June. 2018 D Overhead Costs 6.04b Recurrent Expenditure Items 8.95b Statutory Office holders / Personnel Cost including pension and gratuities 4.29b 7.06b 0 2,000,000,000 4,000,000,000 (NGN Bn) 6,000,000,000 8,000,000,000 10,000,000,000
From the above table, it can be seen that out of the sum of N16,016,690,308 approved for the second quarter recurrent expenditure, the sum of N10,335,836,665was actually spent representing 64.53%.
CAPITAL CAPITAL RECEIPTS LOANS) LOANS) The total approved capital receipts for the year 2018 was N60,443,066,836. Out of this, the sum of N15,110,766,709 was for the the second quarter figures (April-June, 2018) and there was no receipt, representing 0.00% performance for the period under review. RECEIPTS (TRANSFER (TRANSFER SURPLUS, SURPLUS, GRANTS GRANTS AND AND
Capital Receipts Performance NGN (Billions) 16 15 Bn 14 12 10 8 6 4 2 0 Bn 0 Q1 Approved capital receipts (Estimate) Q1 Approved capital receipts (Actual)
CAPITAL CAPITAL EXPENDITURE EXPENDITURE: : The total sum of N88,802,571,192 was approved for capital expenditure for the year 2018. Out of this, the sum of N21,902,503,316 represents the second quarter estimates (April- June, 2018) out of which, the sum N5,088,597,713was the actual capital expenditure, representing 23.23% performance. (Graph below) Below is a summary of Capital Expenditure by Budget Line: Administrative Economic Law and Justice Social Service Sector Debt Servicing N666,028,323 N1,711,091,195 N185,600,000 N703,466,486 N3,266,185,981
Capital Expenditure Actual Performance Summary of Capital Expenditure 25,000,000,000 Debt Servicing 20,000,000,000 Social Service Sector 15,000,000,000 Law and Justice 10,000,000,000 Economic 5,000,000,000 Administrative 0 0 10,000,000,000 20,000,000,000 30,000,000,000 APPROVED CAPITAL EXPENDITURE (ESTIMATES) April June. 2018 APPROVED CAPITAL EXPENDITURE (ACTUAL)AS AT 31/06/2018
