There is also a lot of improvement in our revenue generation. Even though we have not gotten to where we want to be, we have seen steady increase in revenue from 2018 till today, and we expect that trajectory to continue as we implement the strategic revenue and growth initiative.
During a Question and Answer session, Mr. Ben Akabueze, Director-General (DG), Budget Office, said: “As the Honourable Minister stated earlier on, the overall budget implementation, expenditure wise as of July, was 92.3 percent. And she pointed out items like debt service, personnel cost performed 100 percent. Capital budget as of that day has reached 60 percent performance and that is what then brought down the overall average to 92 percent.
“As of now, every agency of government has received at least 50 percent of their 2020 capital budget released to them. And indeed, despite the challenges of this year, this might be one year we won’t record the highest level of capital budget performance for a while. It is also reflective of the switch to implementing January to December fiscal year, despite interruption of COVID-19.