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Secretary General of Federation, David Lawal Babachir revealed that Nigeria revenue profiles
has dropped to 60 percent, thereby affecting the capital projects in the 2016 budget.
Babachir who made this known at a joint Senate committee on Ethics, Privileges and Public Petitions; Appropriation and Finance to defend the statement credited to him in the media on Constituency projects.
SGF is a statement credited to him in the media said the constituency projects might not be implemented due to dwindling revenues of the country.
He said the oil benchmark of the Federal Government has been drastically affected by activities of militants, adding that the country was producing about 800,000 barrels per day.
In his words, “The statement is correct. That is my statement reported by the media that we cannot guarantee the implementation of constituency projects in the 2016 budget. As a government, constituency projects are championed by members of the National Assembly. Like the legislature, members of the executive are politicians who canvassed for votes.
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“Lawmakers are aware that oil barrels had dwindled to about 800,000 per day. This has led to the inability of government to finance the budget. It is the duty of government to prepare the minds of Nigerians ahead that there will be challenges in implementing the budget.
“Government based its principle on zero budgeting this year. Funds will be released to finance key projects in line with the implementation plans of the government. I will explain why it will be hard for the government to implement the budget.
“I spoke with the Minister of Budget this morning (yesterday) and I asked him the revenue base of the government. We are now receiving about 50 to 60 earnings from what we projected.
“Some MDAs might find it impossible to implement projects appropriated in their budgets. We have to re-prioritize. I like us to understand that this is the background upon which I made that statement.
“That statement may not be palatable to the legislature or the citizens. But MDAs are facing challenges in implementing the budget based on the funds available to the
