The Minister of Finance, Kemi Adeosun, yesterday said that there is no guarantee that the Federal Government would implement the 2016 budget in full.
The minister said this when she was summoned alongside the governor of Central Bank of Nigeria, Godwin Emefiele yesterday by the National Assembly to give a report on the current situation of the country’s economy.
Adeosun explained to the house that a lot was based on how much money was available to the government from crude oil sales to implement the N6.06 trillion budget.
“I cannot promise that every single agency will receive every money appropriated for them. The budget is an estimate and funds will be released based on revenue,” the minister said.
Even though there was an N18.25 billion drop in revenue accruable to the Federation Account for the month of April, the minister told the lawmakers that no ministry was expected to lobby for funds, adding that there would be a need for assessment before money would be released in the months ahead.