Ministry of Budget and Planning Funding Overview

This financial report provides a detailed breakdown of funding sources, actual performance, and expenditure for the Ministry of Budget and Planning. It includes data on revenue sources, budget allocation, and expenditure comparisons between 2022 and 2023.

• Finance
• Budgeting
• Planning
• Government
• Funding

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1. FUNDING SOURCES FUNDING SOURCES Actual Performance (NBn) 41.63 34.57 157.69 76.99 % of Actual on Total Performance 14.39 32.05 % of Actual on Proportionate Target 83.04 48.82 Budget (NBn) 41.63 210.25 Proportionate Target (NBn) % Actual on Total Budget S/No Details i Opening Balance ii IGR 83.04 36.62 iii iv Statutory Allocation VAT EXCESS CRUDE /EXCHANGE GAIN 50.73 37.42 38.05 28.07 23.36 31.30 9.72 13.03 61.40 111.53 46.05 83.65 v 3.85 2.89 26.09 10.86 903.55 677.66 vi Capital Receipts Total 128.37 472.25 96.28 364.60 47.92 240.23 19.95 100.00 49.77 65.89 37.33 50.87 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 202.64 151.98 131.92 65.35 86.80 65.10 ii Capital Expenditure 269.61 202.21 69.94 34.65 34.59 25.94 Total Expenditure 472.25 354.19 201.86 100.00 56.99 42.74 MINISTRY OF BUDGET AND PLANNING 1

2. Proportionate Expenditure Performance 2023 vs 2022 Expenditure September, 2023 stood at N N201 which represents proportionate proportionate target target of Performance as at Bn the the 250 201. .86 of of 19Bn Bn. . 86Bn 56.99% % of N N354 354. .19 200 It also represents 42 budget size of N N472 74% % of the total 472. .25 Bn 42. .74 25Bn 150 The performance depicts a positive change of 21 21. .04 04% % in in expenditure compared with the actual expenditure for the corresponding period of 2022, which was N N166 166. .76 76Bn 49.30% % of the proportionate Budget of N338.24Bn and 36.98% of the total budget size of N N450 450. .98 expenditure when 100 50 Bn representing 0 2023 2022 98B B. . PROPORTIONATE BUDGET ACTUAL PERFORMANCE MINISTRY OF BUDGET AND PLANNING 2

3. MINISTRY MINISTRYOF BUDGET AND PLANNING OF BUDGET AND PLANNING 3

4. S/No Details Actuals N(Bn) % of Total i Opening Balance 34.57 14.39 ii IGR 76.99 32.05 iii Statutory Allocation 23.36 9.72 iv Value Added Tax 31.30 13.03 v Excess Crude/Exchange Gain 26.09 10.86 Total Recurrent Revenue + Opening Balance 192.31 80.05 vi Capital Receipt 47.92 19.95 OPENING BAL STATUTORY ALLOCATION EXCESS CRUDE /EXCHANGE GAIN IGR VAT CAPITAL RECEIPT Total Funding Sources 240.23 100.00 MINISTRY OF BUDGET AND PLANNING 4

5. % Actual Funding Performance on Proportionate Target % Actual Funding Performance on Approved Budget Proportionate Target (Jan Sept. 2023) (N) Actual Funding Performance (Jan-Sept. 2023) (N) % Actual Funding on Total Performance Approved Budget (N) Details Opening Balance 41,631,640,640.90 41,631,640,640.90 34,568,982,908.72 83.04 83.04 14.39 IGR 210,248,909,826.51 157,686,682,369.88 76,998,742,231.48 48.83 36.62 32.05 STATUTORY ALLOCATION 50,730,566,593.86 38,047,924,945.40 23,363,327,979.50 61.40 46.05 9.73 VALUE ADDED TAX 37,422,406,721.33 28,066,805,041.00 31,296,254,307.81 111.51 83.63 13.03 EXCESS CRUDE/ EXCHANGE TOTAL RECURRENT REVENUE+OPENING BALANCE 3,845,054,076.26 2,883,790,557.20 26,088,100,239.79 904.65 678.48 10.86 71.67 55.93 80.05 343,878,577,858.86 268,316,843,554.37 192,315,407,667.30 CAPITAL RECEIPT 128,372,116,588.72 96,279,087,441.54 47,924,261,188.50 49.78 37.33 19.95 TOTAL FUNDING SOURCES 472,250,694,447.58 364,595,930,995.91 240,239,668,855.80 65.89 50.87 100.00 MINISTRY OF BUDGET AND PLANNING 5

6. 2023 2022 2023 Approved Budget % of Jan.-Sept. Actual (N bn) % of Proportionate Target Jan.-Sept. Actual (N bn) Proportionate Performance 2022 Proportionate Target Proportionate Performance S/NO. Details Revised Budget Opening Balance (IGR) Ministries Boards and Corporations Total IGR Statutory Allocation VAT Total Recurrent Revenue + Opening Balance Capital Receipts Excess Crude/Exchange Gain TOTAL FUNDING 41.63 41.63 34.57 35.08 34.99 i 83.04 ii 129.13 28.56 199.32 199.32 38.05 28.07 24.13 96.00 120.13 120.13 32.32 19.95 (a) (b) 172.17 38.08 210.25 50.73 37.42 59.09 17.90 76.99 23.36 31.30 45.76 62.68 38.63 61.40 111.53 32.18 128.00 160.17 43.10 26.59 13.66 60.08 73.74 25.79 19.75 56.60 62.58 61.38 79.80 99.00 iii iv 265.43 265.43 96.28 172.40 172.40 137.04 340.03 128.37 166.22 47.92 62.62 49.77 264.95 182.73 154.27 35.79 89.48 26.12 v 2.89 2.48 V 3.85 26.09 903.55 3.31 3.66 147.50 472.25 364.60 240.23 450.99 311.93 193.72 65.89 62.10 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

7. Revised Budget (NBn) % Proportionate Target % Performance on Total Budget Proportionate Performance % Total Performance S/No Details Actual (NBn) i Opening Balance 35.084 35.00 18.07 99.75 ii IGR 160.174 120.13 73.74 38.06 61.38 46.04 iii Statutory Allocation 43.096 32.32 25.79 13.31 79.80 59.85 iv VAT 26.594 19.95 19.75 10.19 99.00 74.25 v EXCESS CRUDE/EXCHANGE GAIN 3.312 2.48 3.66 1.89 147.50 110.63 vi Capital Receipts 182.726 137.04 35.79 18.47 26.12 19.59 Total Funding 450.986 311.93 193.73 100.00 62.11 42.96 MINISTRY OF BUDGET AND PLANNING 7

8. % APPROVED BUDGET (N) PROPORTIONATE TARGET (N) ACTUAL % PROPORTIONATE PERFORMANCE PERFORMANCE ON TOTAL BUDGET S/N AGENCIES PERFORMANCE (N) 1 Board of Internal Revenue 90,000,000,000.00 67,500,000,000.00 38,053,458,634.20 56.38 42.28 2 Ministry of Finance 16,166,685,000.00 12,125,013,750.00 7,582,274,378.06 62.53 46.90 3 Bureau of Lands and Survey 43,299,740,000.00 32,474,805,000.00 6,993,133,917.29 21.53 16.15 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 6,015,377,250.00 0.00 0.00 0.00 5 10,894,753,884.18 8,171,065,413.14 2,024,570,232.81 24.78 18.58 6 1,887,946,140.00 1,415,959,605.00 1,178,606,088.73 83.24 62.43 7 2,100,000,000.00 1,575,000,000.00 606,718,706.52 38.52 28.89 8 9 10 1,891,121,640.00 545,242,443.35 551,671,932.00 1,418,341,230.00 408,931,832.51 413,753,949.00 2,451,506,065.13 654,195,157.96 295,418,727.26 172.84 159.98 71.40 129.63 119.98 53.55 11 Office of the Accountant- General 349,575,988.14 262,181,991.11 568,942,319.80 217.00 162.75 12 13 14 15 Ministry of Forestry Judiciary Ministry of Agriculture Forestry Plantation Projection (AREA J4) 353,176,127.50 161,004,364.24 1,196,729,270.02 174,402,795.00 264,882,095.63 120,753,273.18 897,546,952.52 130,802,096.25 194,469,189.72 116,891,910.36 127,737,263.12 82,893,600.00 73.42 96.80 14.23 63.37 55.06 72.60 10.67 47.53 Sub-Total 177,592,552,584.43 133,194,414,438.32 60,930,816,190.96 45.75 34.31 Others 32,656,357,242.08 24,492,267,931.56 16,067,926,040.52 65.60 49.20 TOTAL 210,248,909,826.51 157,686,682,369.88 76,998,742,231.48 48.83 36.62 MINISTRY OF BUDGET AND PLANNING 8

9. MINISTRY MINISTRYOF BUDGET AND PLANNING OF BUDGET AND PLANNING 9

10. %Actual Expenditure on Proportionate Expenditure % Actual Expenditure on Total Actual Expenditure Actual Expenditure Jan. Sept. 2023 N(Bn) % Actual Expenditure on Approved Budget Approved Budget N(Bn) Details Proportionate Target Salaries & Allowances 79,854,715,889.03 59,891,036,916.77 50,853,212,699.24 63.68 84.91 25.19 Consolidated Revenue Fund Charges 21,124,115,202.70 15,843,086,402.03 11,629,687,198.86 55.05 73.41 5.76 Total Personnel Cost 100,978,831,091.73 75,734,123,318.80 62,482,899,898.10 61.88 82.50 30.95 Overhead Cost Public Debt Charges (Overhead ) 61,763,151,086.23 46,322,363,314.67 33,036,070,392.16 53.49 71.32 16.37 39,902,773,546.29 29,927,080,159.72 36,397,969,062.98 91.22 121.62 18.03 Total Recurrent Expenditure 202,644,755,724.25 151,983,566,793.19 131,916,939,353.25 65.10 86.80 65.35 Capital Expenditure 269,605,938,723.32 202,204,454,042.49 69,939,681,929.26 25.94 34.59 34.65 Public Debt Charges (Capital) 0.00 0.00 0.00 0.00 0.00 Total Capital Expenditure Total Expenditure 269,605,938,723.32 202,204,454,042.49 69,939,681,929.26 25.94 34.59 34.65 472,250,694,447.57 354,188,020,835.68 201,856,621,282.51 42.74 56.99 100.00 MINISTRY OF BUDGET AND PLANNING 10

11. Actual Expenditure Jan. Sept. 2022 (N) % Proportionate Target (N) Performance on Budget % Proportionate Expenditure % of Total Actual Expenditure Details Revised Budget (N) Salaries & Allowances 75,975,733,186.80 56,981,799,890.10 47,793,665,109.76 62.91 83.88 28.66 Consolidated Revenue Fund Charges 20,752,090,767.67 15,564,068,075.75 10,031,903,467.20 48.34 64.46 6.02 Total Personnel Cost 72,545,867,965.85 57,825,568,576.96 59.78 79.71 34.67 96,727,823,954.47 Overhead Cost 57,746,818,551.74 43,310,113,913.81 23,894,905,466.13 41.38 55.17 14.33 Public Debt Charges (Overhead ) Total Recurrent Expenditure 28,013,395,249.03 21,010,046,436.77 23,064,654,537.18 82.33 109.78 13.83 91,244,018,877.62 104,785,128,580.27 57.42 114.84 62.83 182,488,037,755.24 Capital Expenditure Public Debt Charges (Capital) Total Capital Expenditure TOTAL EXPENDITURE 268,498,528,922.80 201,373,896,692.10 61,980,134,948.75 23.08 30.78 37.17 0.00 0.00 0.00 #DIV/0! #DIV/0! 0.00 61,980,134,948.75 23.08 30.78 37.17 268,498,528,922.80 201,373,896,692.10 166,765,263,529.02 36.98 49.30 100.00 450,986,566,678.04 338,239,925,008.53 MINISTRY OF BUDGET AND PLANNING 11

12. 2023 2023 2022 2022 Actual Performance N(Bn) Actual Performance N(Bn) S/N Details % of Total % of Total % Change Salaries and Allowances i 25.19 47.79 28.66 6.40 50.85 CRFC ii 5.76 10.03 6.01 15.95 11.63 Total Personnel Cost 62.48 30.95 57.82 34.67 8.06 Overhead Cost iii 16.37 23.9 14.33 38.24 33.04 Public Debt Charges iv 18.03 23.06 13.83 57.81 36.39 Total Recurrent Expenditure 65.35 62.83 25.89 131.91 104.78 Capital Expenditure v 34.65 61.98 37.17 12.84 69.94 TOTAL EXPENDITURE 100.00 100.00 21.04 201.85 166.76 Actual Expenditure Performance 100 50 0 Salaries & Allowances CRFC Overhead Cost PDC Capital 2023 2022 MINISTRY OF BUDGET AND PLANNING 12