Your Performance Determines Your Allocation – Budget Minister To MDAs
Senator Udoma Udo-Udoma[/caption]
Minister of Budget and National Planning, Senator Udoma Udo-Udoma, has told Ministries, Departments and Agencies that henceforth, capital allocation will now depend on performance indicators as against the era of automatic release.
The Minister, who said this while speaking at the 2016 Annual Public Lecture of the Nigerian Economic Society on Tuesday in Abuja, added that the development was part of a robust monitoring and evaluation framework developed by the ministry for effective monitoring of the 2016 budget implementation.
He noted that the 2016 budget was premeditated to help improve economic challenges in the country, stressing that the document signals the determination of the federal government to create a diversified economy that was no longer dependent on crude oil proceeds.
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According to him, 29 per cent of the total budget went to capital expenditure, which was aimed at stimulating the economy, creating jobs for Nigerian youths as well as supporting the vulnerable groups.
“We believe that with all these measures, we will succeed in turning the economic crisis into an opportunity to restructure and reposition our economy for growth and prosperity. In this way, we will deliver the economic change we promised Nigerians,” the minister said.
He assured Nigerians that the current administration is committed to improving the its plans and budgeting processes to ensure better implementation of projects and programmes.
