Dwindling revenue reason for overhead costs cut – DG Budget

The Director-General, Budget office of the Federation, Mr Ben Akabueze said the federal government has been forced to cut overhead allocation to its Ministries, Departments and Agencies due to dwindling revenue.

Akabueze said this on Thursday in Abuja when the Management of the News Agency of Nigeria (NAN), led by its Managing Director, Mr Bayo Onanuga paid him a visit.

“The picture you’ve painted about declining overhead allocation cuts across all agencies of government. And the primary reason is that government has grown excessively. It’s not like the aggregate overhead budget has reduced. No it hasn’t,  it is  increasing.

“Last year, for instance, the aggregate overhead budget was N163 billion and 2017, we sent N226 billion.

“It may not necessarily  translate to any significant change in what you get, because government have got too many agencies…