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FGN BUDGET PRESENTATION

According to Section 81 of the Constitution of the Federal Republic of Nigeria, 1999, “the President shall cause to be prepared and laid before each House of the National Assembly at any time in each financial year estimates of the revenues and expenditure of the Federation for the next following financial year”. Accordingly, when the FGN budget is formulated and processed and approved by the Federal Executive Council it is formally “laid before each House of the National Assembly” as stipulated by the Constitution. Budget information is presented in a way that facilitates policy analysis and promotes accountability. Budget data is reported on a gross basis, distinguishing revenue, expenditure, and financing, with expenditure classified by economic, functional, and administrative category. Data on extra-budgetary activities is reported on the same basis. Statement of objectives to be achieved by major budget programs is provided. The overall balance of the general government is a standard summary indicator of the government’s fiscal position. This is contained in the President’s Budget Speech for the new fiscal year. This is supplemented where appropriate by other fiscal indicators for the government. Next

Procedures for Budget Execution

Procedures for the execution, monitoring and Evaluation of the FGN Budget are clear. A comprehensive, integrated accounting system, which provides a reliable basis for assessing payment arrears in the Treasury. Standardised procurement and employment regulations, which is open.
The Department of Budget Monitoring and Evaluation go out into the field to monitor projects and report. In addition, the department in conjunction with the treasury monitor disbursement of funds and its application by spending Ministries of Agencies. The work of the Department of Budget Monitoring and Evaluation is further complemented by the Budget Monitoring and Price Intelligence Unit in the Presidency.

Publications

Speech Of The Director-General Delivered At The Press Briefing On The 2008-2012 Nigeria Custom And Excise Tariff Book... Read More

Minister's Briefing...Read More

Budget....Read More

IMPORT PROHIBITION LIST...Read more

ALLOCATION TO FED/STATE & LOCAL GOVERNMENT AREA...Read more

CAPITAL WARRANT...Read more

Tarrif...Read more

News Update