FG RELEASED N7.3TN FOR RECURRENT, CAPITAL EXPENDITURE IN 2018 – CBN
Written by thereachfm on March 13, 2019
Analysts say between January and December last year, the Federal Government spent about N7.36tn on the implementation of the 2018 budget.
Reports say the amount was spent on three major expenditure components recurrent expenditure, capital expenditure and statutory transfers.
The 2018 budget, signed by President Muhammadu Buhari on the 20th of June last year, had a total spending of N9.1tn.
The Minister of Finance, Zainab Ahmed, while unveiling a Strategic Revenue Growth Initiative aimed at boosting the level of revenue generation, last month, said the government was concerned about the inability to meet their revenue target adding that the President had directed that revenue generation needed to be enhanced.