The minister of budget and national planning, Udo Udoma, says the federal government has spent only N6.938 trillion of the N9.12 trillion 2018 budget, leaving N2.18 trillion unspent. Giving his presentation on the 2019 budget in Abuja on Tuesday, Udoma said the 2018 budget performance stood at 79 percent.
Udoma revealed that the federal government did not achieve its revenue generation targets for the year, falling short by 45 percent. He said as at the end of the year, Federal Government’s actual aggregate revenue was N3.96 trillion, which is 55 percent of the budget, although higher than 2017 revenue.
President Buhari has signed the 2019 budget with questions on where to get the funds to fill up the deficit, considering the inability to meet 2018 revenue targets.