FG to spend 1.43trn without appropriation in 2020

A total sum of 1.43trillion has been projected to be spent by the federal government across different strategic projects in the 2020 fiscal year.

The projects and amount to be spent, however, are not captured in the 2020 federal government the budget proposal that was presented by President Muhammadu Buhari on October 8, 2019.

A breakdown of the expenditure by The Daily Times showed that N1.22 trillion will be spent on federally funded projects in the oil and gas sector to be undertaken by the Nigerian National Petroleum Corporation, while transfers to the Tertiary Education Trust Fund (TETFUND) for infrastructure projects in tertiary institutions will gulp N227bn.

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Also, N82.35bn transfer to the Nigerian Sovereign Wealth Investment Authority (NSIA) for Public-Private Partnership (PPP) Presidential Infrastructure Development Fund (PTDF).

In the same vein, N61billion was budgeted for Presidential Power Initiative. But checks by our correspondent shows that although these projects are not captured in the 2020 budget proposals, it was however included in the medium-term expenditure framework.

However, the Minister of Finance, Budget and National Planning, Zainab Shamsuna Ahmed earlier this week during the presentation and breakdown of key highlights of the 2020 budget said the projects were captured in the Medium Term Expenditure Framework (MTEF 2020-2020).

Ahmed said the inclusion of the budgets was as a result of the current administration to improve the power situation in the country from generation to distribution and also, improve infrastructural development in the education sector.

She added that Investing in critical infrastructure, human capital development especially in key job-creating sectors, especially in private sector investment remains a key focus on the 2020 budget.

“As Mr President stated in his budget speech, investing in critical infrastructure, human capital development and enabling institutions, especially in key job-creating sectors, incentivizing private sector investment essential to complement the FGN’s development plans, policies and programmes remain the key focus in FY 2020,” she explained.