FG Releases N1.2trn To MDAs For Implementation Of 2017 Capital Projects

About one month into year 2018, the Federal Government on Monday has released N1.2 trillion to ministries, departments and agencies (MDAs) of government for implementation of capital projects contained in the 2017 budget.
The release of the funds is coming on the heels of heightened criticism of the Federal Government over poor implementation of the national budget. Many of the federal roads are in a bad state, with power supply very poor.
Kemi Adeosun, Minister of Finance, gave the figure during a meeting with a delegation of investors from France in Abuja.
Adeosun said N750 billion was released recently in addition to N450 billion earlier released in the year.
She said the President Muhammadu Buhari’s administration remains determined to diversify the nation’s economy by opening up the non-oil sector.
The minister noted that the robust capital releases were evidence of the government’s plan to take the country to the next level.
“We are chatting a new path and it’s the path to recovery. It’s a new path of the Nigerian economy that we’re trying to build. It’s not dependent on oil.
“We’ve seen opportunities opened up. 75 per cent of our economy is agriculture. “We’re working on a range of reforms. Our currency is fairly priced and stable. We are mobilising revenue from taxes.
“We now have a data that is able to correctly access tax payers.
“We see growth in the banking, service, manufacturing and opportunities in the power sector”, she said.
Continuing, she noted, “Without infrastructure, it’s difficult for any business to compete in the country.

Leave a Reply

Your email address will not be published. Required fields are marked *