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Ten Ministries, Agencies, and Departments (MDAs) are to expend between them, a sum of N1.509 trillion on capital expenditure. These MDAs will spend 30.9% of the total capital expenditure of N4.891 trillion in the proposed 2022 budget.
The Federal Government failed to comply with the provisions of the Fiscal Responsibility Act (FRA), 2007 and International Public Sector Accounting Standards (IPSAS) with respect to the submission of its Consolidated Financial Statements.
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The proposed 2022 budget figure of N16.39 trillion is N2.41 trillion more than the projected budget for the 2022 fiscal year. And it is only N381.19 billion less than the projected aggregate budget expenditure of the 2024 fiscal year of N16.77 trillion.
