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Questions and Answers
What are the categories of budget spending mentioned in the text?
What are the categories of budget spending mentioned in the text?
- Capital Expenditure, Recurrent Expenditure, and Development Expenditure
- Overhead Cost, Personnel Cost, and Capital Expenditure
- Statutory Transfer, Debt Service, and MDAs Expenditure (correct)
- Salaries, Bonuses, and Allowances
What is the main purpose of the MDAs Envelopes mentioned in the text?
What is the main purpose of the MDAs Envelopes mentioned in the text?
- To cover entertainment expenses of government officials
- To fund personal projects of ministry officials
- To distribute bonuses to employees
- To allocate projected revenue to MDAs based on government priorities (correct)
Which entity issues financial warrants for personnel cost and overhead cost based on the Appropriation Act?
Which entity issues financial warrants for personnel cost and overhead cost based on the Appropriation Act?
- Budget Office of the Federation
- Federal Ministry of Finance (correct)
- National Assembly
- Federal Executive Council
What is the purpose of the Economic Reform and Governance Project (ERGP) in Nigeria?
What is the purpose of the Economic Reform and Governance Project (ERGP) in Nigeria?
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When does the Budget Office of the Federation consolidate inputs received from MDAs?
When does the Budget Office of the Federation consolidate inputs received from MDAs?
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Which entity approves the proposed Budget in Nigeria?
Which entity approves the proposed Budget in Nigeria?
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'Debt Service' is categorized under which type of budget spending?
'Debt Service' is categorized under which type of budget spending?
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