The Petroleum Technology Development Fund: Underutilising Funds in an Underfunded Programme

Unlike the usual deficits that define the national budgets, the Petroleum Technology Development Fund (PTDF) has recorded an accrued surplus of unused funds for capital expenditures and capacity building programmes totalling N62 billion by 2016. However, the recurrent expenses increased by 137% from N3.85 billion to N9.14 billion between 2012 and 2016.