A recent report from the Office of the Accountant General of the Federation (OAGF) detailed the capital expenditure performance for Ministries, Departments, and Agencies (MDAs) as of the third quarter of 2023. It highlighted the allocation and utilization of funds for capital projects and programs, amounting to a total of ₦1.23 trillion released and cash-backed by the government.
The funds were disbursed in tranches based on the availability of resources and government priorities:
First tranche: ₦351 billion
Second tranche: ₦331.92 billion
Third tranche: ₦208 billion
AlEs MDAs Budget: ₦75.35 billion
AlEs Service Wide: ₦261 billion
The report provided a breakdown of capital expenditure performance across 52 MDAs, showing varied levels of fund utilization. Specifically:
42 MDAs (80.77%) utilized more than the overall average utilization rate of 52.44% of the cash-backed amount.
35 MDAs achieved a utilization rate above 65.0%.
Only four MDAs (7.72%) achieved a 100% utilization level.
This breakdown underscores the differing efficiencies in capital fund utilization among the various MDAs, reflecting the varying degrees of effectiveness in implementing capital projects and programs within the given fiscal period.
