Government Expenditure and Funding Performance Analysis 2023

FUNDING SOURCES FUNDING SOURCES Actual Performance (NBn) 41.63 67.85 52.56 24.53 % of Actual on Total Performance 59.44 21.49 % of Actual on Proportionate Target 162.98 46.67 Budget (NBn) 41.63 210.25 Proportionate Target (NBn) % Actual on Total Budget S/No Details i Opening Balance ii IGR 162.98 11.67 iii iv Statutory Allocation VAT EXCESS CRUDE /EXCHANGE GAIN 50.73 37.42 12.68 9.36 8.59 8.07 7.53 7.07 67.73 86.26 16.93 21.57 v 3.85 0.96 2.46 2.16 255.58 63.90 vi Capital Receipts Total 128.37 472.25 32.09 107.66 2.65 114.15 2.32 100.00 8.26 76.46 2.06 24.17 EXPENDITURE EXPENDITURE Actual Performance (NBn) % of Actual on Total Performance % of Actual on Proportionate Target Budget (NBn) Proportionate Target (NBn) % Actual on Total Budget S/No Details i Recurrent Expenditure 202.64 50.66 42.02 72.54 82.95 20.74 ii Capital Expenditure 269.61 67.40 15.91 27.46 23.60 5.90 Total Expenditure 472.25 118.06 57.93 100.00 49.07 12.27 MINISTRY OF BUDGET AND PLANNING 1

Proportionate Expenditure Performance 2023 vs 2022 Expenditure Performance as at March, 2023 stood at represents 49 49. .07 07% % of of the target target of of N N118 118. .06 06Bn Bn. . 140 N N57 57. .93 the proportionate proportionate 93Bn Bn which 120 100 It also represents 12 budget size of N N472 27% % of the total 472. .25 Bn 12. .27 25Bn 80 The performance depicts a positive change of 12 12. .75 75% % in in expenditure compared with the actual expenditure for the corresponding period of 2022, which was N N51 51. .39 39Bn 58.62% % of the proportionate Budget of N87.68Bn and 14.65% of the total budget size of N N350 350. .73 60 expenditure when 40 20 Bn representing 0 2023 2022 73B B. . PROPORTIONATE BUDGET ACTUAL PERFORMANCE MINISTRY OF BUDGET AND PLANNING 2

MINISTRY MINISTRYOF BUDGET AND PLANNING OF BUDGET AND PLANNING 3

S/No Details Actuals N(Bn) % of Total i Opening Balance 67.85 59.44 ii IGR 24.53 21.49 iii Statutory Allocation 8.59 7.53 iv Value Added Tax 8.07 7.07 v Excess Crude/Exchange Gain 2.46 2.16 Total Funding 111.50 97.68 vi Capital Receipt 2.65 2.32 OPENING BAL STATUTORY ALLOCATION EXCESS CRUDE /EXCHANGE GAIN IGR VAT CAPITAL RECEIPT Total Funding Sources 114.15 100.00 MINISTRY OF BUDGET AND PLANNING 4

% Actual Funding Performance on Proportionate Target % Actual Funding Performance on Approved Budget Proportionate Target (Jan-March 2023) (NBn) Actual Funding Performance (Jan.-March 2023) (NBn) % Actual Funding on Total Performance Approved Budget (NBn) Details Opening Balance 41,631,640,640.90 41,631,640,640.90 67,851,447,067.19 162.98 162.98 59.44 IGR 210,248,909,826.51 52,562,227,456.63 24,532,646,348.50 46.67 11.67 21.49 STATUTORY ALLOCATION 12,682,641,648.47 8,593,442,788.76 67.76 16.94 7.53 50,730,566,593.86 VALUE ADDED TAX 9,355,601,680.33 8,067,804,145.63 86.24 21.56 7.07 37,422,406,721.33 EXCESS CRUDE/ EXCHANGE 961,263,519.07 2,455,235,120.38 255.42 63.85 2.15 3,845,054,076.26 147.56 32.42 97.67 TOTAL REVENUE 343,878,577,858.86 75,561,734,304.49 111,500,575,470.46 CAPITAL RECEIPT 32,093,029,147.18 2,655,686,848.83 8.27 2.07 2.33 128,372,116,588.72 100.00 TOTAL FUNDING SOURCES 472,250,694,447.58 149,286,404,092.57 114,156,262,319.29 76.47 24.17 MINISTRY OF BUDGET AND PLANNING 5

2023 2022 % of Jan.-Mar. Actual (N bn) % of 2023 Estimates Proportionate Target Jan.-Mar. Actual (N bn) Proportionate Performance 2022 Proportionate Target Proportionate Performance S/NO. Details Estimates Opening Balance (IGR) Ministries Boards and Corporations Total IGR Statutory Allocation VAT Total Funding Capital Receipts Excess Crude/Exchange Gain TOTAL 41.63 41.63 67.85 10.31 35.08 i 162.98 ii 43.04 9.52 94.19 94.19 12.68 9.36 116.23 116.23 32.09 29.87 8.43 38.29 38.29 10.77 6.65 55.72 55.72 28.56 (a) (b) 172.17 38.08 210.25 50.73 37.42 340.03 128.37 18.95 5.58 24.53 8.59 8.07 109.04 2.65 44.03 58.61 26.04 67.73 86.26 93.81 8.26 119.46 33.71 153.17 43.10 26.59 233.17 114.25 17.04 4.81 21.85 6.67 6.22 69.82 6.25 57.06 57.08 57.06 61.93 93.52 125.32 21.87 iii iv v 0.96 0.83 V 3.85 2.46 255.58 3.31 1.40 0.00 472.25 149.29 114.15 350.73 85.11 77.47 76.46 91.03 Actual Performance 2023 2022 100 50 0 Opening Bal. IGR Statutory Allocation VAT Capital Receipts Excess Crude Oil/ Exchange Gain MINISTRY OF BUDGET AND PLANNING 6

% Budget (NBn) Proportionate Target % Performance on Total Budget Proportionate Performance % Total Performance S/No Details Actual (NBn) i Opening Balance 10.31 10.31 35.08 45.28 340.25 340.25 ii IGR 153.17 38.29 21.85 28.20 57.06 14.27 iii Statutory Allocation 43.1 10.78 6.67 8.61 61.90 15.48 iv VAT 26.59 6.65 6.22 8.03 93.57 23.39 v EXCESS CRUDE/EXCHANGE GAIN 3.31 0.83 1.4 1.81 169.18 42.30 vi Capital Receipts 114.25 28.56 6.25 8.07 21.88 5.47 Total 350.73 95.42 77.47 100.00 81.19 22.09 MINISTRY OF BUDGET AND PLANNING 7

% APPROVED PROVISION N(BN) ACTUAL % PERFORMANCE ON TOTAL BUDGET % PROPORTIONATE PERFORMANCE PERFORMANCE ON TOTAL BUDGET S/N AGENCIES PERFORMANCE N(BN) 1 Board of Internal Revenue 90,000,000,000.00 22,500,000,000.00 13,504,216,072.60 60.02 15.00 2 Ministry of Finance 16,166,685,000.00 4,041,671,250.00 4,843,730.62 0.12 0.03 3 Bureau of Lands and Survey 43,299,740,000.00 10,824,935,000.00 3,875,414,343.19 35.80 8.95 4 OPIC Ogun State Planning & Development Permit Authority Ministry of Education Ministry of Industry, Trade and Investment Ogun State Housing Corporation Ministry of Physical Planning Agricutural Development Corporation 8,020,503,000.00 2,005,125,750.00 381,976,587.90 19.05 4.76 5 10,894,753,884.18 2,723,688,471.05 509,037,053.75 18.69 4.67 6 1,887,946,140.00 471,986,535.00 400,421,401.63 84.84 21.21 7 2,100,000,000.00 525,000,000.00 103,647,940.77 19.74 4.94 8 9 10 1,891,121,640.00 545,242,443.35 551,671,932.00 472,780,410.00 136,310,610.84 137,917,983.00 254,706,091.81 69,215,391.40 123,958,200.97 53.87 50.78 89.88 13.47 12.69 22.47 11 Office of the Accountant- General 349,575,988.14 87,393,997.04 11,823,528.59 13.53 3.38 12 13 14 15 Ministry of Forestry Judiciary Ministry of Agriculture Forestry Plantation Projection (AREA J4) 353,176,127.50 161,004,364.24 1,196,729,270.02 174,402,795.00 88,294,031.88 40,251,091.06 299,182,317.51 43,600,698.75 80,774,989.70 39,428,462.60 19,136,893.80 31,353,150.00 91.48 97.96 6.40 71.91 22.87 24.49 1.60 17.98 Sub-Total 177,592,552,584.43 44,398,138,146.11 19,409,953,839.33 43.72 10.93 Others 32,656,357,242.08 8,164,089,310.52 5,122,692,509.17 62.75 15.69 TOTAL 210,248,909,826.51 52,562,227,456.63 24,532,646,348.50 46.67 11.67 MINISTRY OF BUDGET AND PLANNING 8

MINISTRY MINISTRYOF BUDGET AND PLANNING OF BUDGET AND PLANNING 9

%Actual Expenditure on Proportionate Expenditure % Actual Expenditure on Total Actual Expenditure Actual Expenditure Jan. March 2023 N(Bn) % Actual Expenditure on Approved Budget Approved Budget N(Bn) Details Proportionate Target Salaries & Allowances 79,854,715,889.03 19,963,678,972.26 16,095,499,728.45 20.16 80.62 27.78 Consolidated Revenue Fund Charges 21,124,115,202.70 5,281,028,800.68 3,695,115,649.54 17.49 69.97 6.38 Total Personnel Cost 100,978,831,091.73 25,244,707,772.93 19,790,615,377.99 19.60 78.40 34.16 Overhead Cost Public Debt Charges (Overhead ) 61,763,151,086.23 15,440,787,771.56 8,619,846,293.09 13.96 55.83 14.88 39,902,773,546.29 9,975,693,386.57 13,607,262,385.17 34.10 136.40 23.49 Total Recurrent Expenditure 202,644,755,724.25 50,661,188,931.06 42,017,724,056.25 20.73 82.94 72.53 Capital Expenditure 269,605,938,723.32 67,401,484,680.83 15,913,858,991.73 5.90 23.61 27.47 Public Debt Charges (Capital) 0.00 0.00 0.00 0.00 0.00 Total Capital Expenditure Total Expenditure 269,605,938,723.32 67,401,484,680.83 15,913,858,991.73 5.90 23.61 27.47 472,250,694,447.57 118,062,673,611.89 57,931,583,047.98 12.27 49.07 100.00 MINISTRY OF BUDGET AND PLANNING 10

Actual Expenditure Jan. March 2022 N(Bn) Approved Budget N(Bn) % Performance on Budget % Proportionate Expenditure % of Total Actual Expenditure Details Proportionate Target Salaries & Allowances 75,879,021,496.48 18,969,755,374.12 14,395,964,826.68 18.97 75.89 28.01 Consolidated Revenue Fund Charges 17,212,802,457.99 4,303,200,614.50 3,151,988,493.83 18.31 73.25 6.13 Total Personnel Cost 23,272,955,988.62 17,547,953,320.51 18.85 75.40 34.14 93,091,823,954.47 Overhead Cost 32,075,256,744.27 8,018,814,186.07 5,320,912,056.98 16.59 66.36 10.35 Public Debt Charges (Overhead ) Total Recurrent Expenditure 28,013,395,249.03 7,003,348,812.26 6,725,770,333.91 24.01 96.04 13.09 38,295,118,986.94 29,594,635,711.40 19.32 77.28 57.58 153,180,475,947.77 Capital Expenditure Public Debt Charges (Capital) Total Capital Expenditure TOTAL EXPENDITURE 197,554,673,791.80 49,388,668,447.95 21,802,311,673.18 11.04 44.14 42.42 0.00 0.00 0.00 0.00 0.00 0.00 49,388,668,447.95 21,802,311,673.18 11.04 44.14 42.42 197,554,673,791.80 87,683,787,434.89 51,396,947,384.58 14.65 58.62 100.00 350,735,149,739.57 MINISTRY OF BUDGET AND PLANNING 11

2023 2023 2022 2022 Actual Performance N(Bn) Actual Performance N(Bn) S/N Details % of Total % of Total % Change Salaries and Allowances i 27.77 14.39 28.01 11.81 16.09 CRFC ii 6.39 3.15 6.13 17.46 3.7 Total Personnel Cost 19.79 34.16 17.54 34.14 12.83 Overhead Cost iii 14.88 5.32 10.35 62.03 8.62 Public Debt Charges iv 23.49 6.72 13.08 102.53 13.61 Total Recurrent Expenditure 72.54 57.57 42.06 42.02 29.58 Capital Expenditure v 27.46 21.8 42.43 -27.02 15.91 TOTAL EXPENDITURE 100.00 100.00 12.75 57.93 51.38 Actual Expenditure Performance 40 20 0 Salaries & Allowances CRFC Overhead Cost PDC Capital 2023 2022 MINISTRY OF BUDGET AND PLANNING 12