The Report revealed that out of the 1,497 projects tracked, 475 projects, representing 31.7 percent of the entire projects were completed. It further revealed that 144 projects or 9.6 percent are currently ongoing, 536 projects, representing 35.8 percent of the projects were yet to commence, 42 projects or 2.8 percent were considered as abandoned, while 224 projects, representing 15 percent of the entire projects had unspecified locations. The survey was carried out across only 26 states of the federation between June 2018 and November 2019. Commenting on the findings, CSL Securities said: “While the Muhammadu Buhari presidency may have finally returned Nigeria to a January – December budget cycle, concerns now turn to actual implementation of the budget given Nigeria’s history of sub-optimal budget implementation. These concerns again emerged after Tracka, a project monitoring platform by BudgIT revealed some unfavourable statistics on the implementation of the 2018 Zonal Intervention Projects popularly known as “Constituency Projects”. “Nigeria’s history of poor budget implementation is well known. While the government tries to reasonably cover its recurrent portion of the budget, the struggle has always been to adequately implement its capital budget. “Our analysis reveals average completion rate of Nigeria’s capital budget between 2014 and nine month 2019 of 46.2 percent, which is poor for an economy with infrastructural deficit valued at trillions of dollars. “The reasons for this poor budget implementation are not far-fetched; consistently poor revenue generation, endemic corrupt practices, needless bureaucratic processes are chief among these. In our view, efforts at boosting revenue generation, ensuring transparency and formulating proper policies to guide implementation would improve budget implementation.”