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We Don't Have Money To Release, For Capital Projects: FG - Politics - Nairaland

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Omokri Reacts To The Distribution Of Capital Projects In The 2016 Budget / We’ve Paid N700bn For Road Projects – FG / FG Releases N350b For Capital Projects: See The Breakdown (2) (3) (4)

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We Don't Have Money To Release, For Capital Projects: FG by mamabomboy: 10:23am On Jul 15, 2016
The Federal Government on Thursday declared that the delay currently been experienced in the execution of capital projects, as captured in the N6.06trillion 2016 budget is due to procurement procedure and low level of revenue generation.
Speaking while appearing at a meeting organized by the Senate Committee on Appropriation, the Minister of Budget and National Planning, Senator Udoma Udo Udoma, said the problem arose from the six months requirement for procurement process on execution of new projects as provided for, in the Public Procurement Act.

He said “no new project is ripe for any capital releases because of the six months of procurement process, including advertising and so on. It is only existing projects which already met the criteria for the various procurement stages that are qualified for capital releases”.


On the problem of low revenue, he believed that the overall revenue for the first quarter, was about 55% of the projected revenue expectations, which according to him, was caused by agitation in the Niger Delta by militants and earlier difficulties faced by importers in accessing foreign exchange.

According to him “The bulk of the problem of low revenue generation came from militant agitations in the Niger Delta, which affected oil production and prevented us from reaching the 2.2 million barrel, even though the price is going up.

“At a point, production went down to one million barrel but right now, we have been informed by the Minister of Petroleum that it is going up again to about N1.9 million barrel, but the revenue will come in three months time because the generation of today is not the revenue of today but of three months time”.

The minister assured the committee that many of the new capital projects captured in the budget would be executed since duration for their implementation had been extended till May next year by the National Assembly.


He said “The National Assembly gave us till May next year to carry out the capital expenditure and we still have 10 months of capital spending to do.

“Nevertheless, out of the capital for MDAs, out of N1, 587,598, 122, 028, we have released N235, 916, 566, 642 (15 percent).

“In personnel releases, the budget was N1, 723, 819, 398, 198 but what we released was N871, 459, 760, 939 which comes to about 50 percent. This is the way it should be because we are already in July and we have done six months, which is half of the year.

“For overhead, the budget is N218, 368, 364, 886 and we have released N52, 913, 047, 226 (25 percent)”, he explained.

The committee chairman, Danjuma Goje in his remarks said the committee would in the remaining 10 months for capital budget implementation, continue to assess the budget performance.


www.dailypost.ng/2016/07/15/low-revenue-responsible-for-delay-in-release-of-capital-projects-fund-fg/

Re: We Don't Have Money To Release, For Capital Projects: FG by mamabomboy: 10:27am On Jul 15, 2016
This government is just useless, good for nothing and pathetic. Buhari is a clown

209 Likes 19 Shares

Re: We Don't Have Money To Release, For Capital Projects: FG by tempest01(m): 10:32am On Jul 15, 2016
The government came in to meet a budget...why not utilize the budget to start laying framework for this current budget?

\These people have taken us one year backwards.

41 Likes 5 Shares

Re: We Don't Have Money To Release, For Capital Projects: FG by bonechamberlain(m): 10:58am On Jul 15, 2016
How can u have money when there is no peace in the country, worse still the Fulani President is antagonizing the region that brings in the money. Buhari has totally destroyed Nigeria.

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Re: We Don't Have Money To Release, For Capital Projects: FG by Almajiri1: 11:02am On Jul 15, 2016
The faaji budget is under threat of non execution as a direct result of the 5%

50 Likes 2 Shares

Re: We Don't Have Money To Release, For Capital Projects: FG by todayboy: 11:03am On Jul 15, 2016
Buhari if you don't have money for capital projects the best thing to do is to resign because that's the essence of government

Where is the money efcc have recovered so far why not use that for capital projects

Zombies listen to your confused president

210 Likes 19 Shares

Re: We Don't Have Money To Release, For Capital Projects: FG by greatiyk4u(m): 11:07am On Jul 15, 2016
Following due process is the best way to get it right

Many are finding it difficult cos we are used to corruption

10 Likes 3 Shares

Re: We Don't Have Money To Release, For Capital Projects: FG by plaetton: 11:12am On Jul 15, 2016
todayboy:
Buhari if you don't have money for capital projects the best thing to do is to resign because that's the essence of government

Where is the money efcc have recovered so far why not use that for capital projects

Zombies listen to your confused president

Thank you very much.

If this statement from the federal government is true , then it is a bona fide confession and self-indictment that this government is FXXING USELESS, and exists just to maintain itself, and eat free N1.9b meals at the ASO Rock Villa.

92 Likes 10 Shares

Re: We Don't Have Money To Release, For Capital Projects: FG by Nobody: 11:14am On Jul 15, 2016
You had plethora funds for embarking on fruitless and trifling tourisms but lack sufficient funds to finance the budget? Where is the 4.3+trn funds recovered from looters? where is the fund that was supposed to be used in financing fuel subsidy? where is the 3.2trn fund that Buhari vaunted of being in the TSA? where is the revenue sourced from the exportation of crude oil and internally generated revenue?.

167 Likes 18 Shares

Re: We Don't Have Money To Release, For Capital Projects: FG by Izonpikin: 11:21am On Jul 15, 2016
someone or many persons in the past said oil accounts for just 20 percent of our budget...am i right...it is obvious now that without oil no show for nigeria... cheesy cheesy cheesy...NDA just scatter government plan... smiley smiley smiley....

let those persons who are/were yapping about oil being old fashioned and that niger the delta should drink their oyel provide the FG with the money to run capital projects... cheesy cheesy cheesy...

99 Likes 14 Shares

Re: We Don't Have Money To Release, For Capital Projects: FG by Izonpikin: 11:25am On Jul 15, 2016
Almajiri1:
The faaji budget is under threat of non execution as a direct result of the 5%
and they say the five percent are useless...let the appointed northerners flooding the buharis cabinet provide the remaining cash for capital projects...when we have a president that barely listens this is what happens...let efcc provide that money...nonsense....this admin is just so annoying... angry angry angry angry

64 Likes 9 Shares

Re: We Don't Have Money To Release, For Capital Projects: FG by Almajiri1: 11:34am On Jul 15, 2016
Izonpikin:
and they say the five percent are useless...let the appointed northerners flooding the buharis cabinet provide the remaining cash for capital projects...when we have a president that barely listens this is what happens...let efcc provide that money...nonsense....this admin is just so annoying... angry angry angry angry
Buhari has made self inflicted mistakes that would take decades to reverse.There's no greater form of corruption than has been exemplified by Buhari in the last 14 months.

86 Likes 9 Shares

Re: We Don't Have Money To Release, For Capital Projects: FG by Paperwhite(m): 11:42am On Jul 15, 2016
blueto:
You had plethora funds for embarking on fruitless tourisms but lack sufficient funds to finance the budget? Where is the 4.3+trn funds recovered from looters? where is the fund that was supposed to be used in financing fuel subsidy? where is the 3.2trn fund that Buhari boosted of being in the TSA? where is the revenue sourced from the exportation of crude oil and internally generated revenue?.
Abeg continue to help us ask this fraudulent government of all time.Upon all the brouhaha of recovering staggering amount of monies? Zombies over to you guys.

56 Likes 3 Shares

Re: We Don't Have Money To Release, For Capital Projects: FG by Paperwhite(m): 11:48am On Jul 15, 2016
Almajiri1:

Buhari has made self inflicted mistakes that would take decades to reverse.There's no greater form of corruption than has been exemplified by Buhari in the last 14 months.
I told my bossom friend-a Buharist & Redeemer that even 10 Osinbajos + 1Buhari will be the worst form of government ever seen in Nigeria but then he dismissed me as a pessimist.Today kwa? The kind lamentation he made when last we met is like if he finds Buhari,he'll lynch him.

89 Likes 8 Shares

Re: We Don't Have Money To Release, For Capital Projects: FG by Almajiri1: 11:55am On Jul 15, 2016
Paperwhite:
I told my blossom friend-a Buharist & Redeemer that even 10 Osinbajos + 1Buhari will be the worst form of government even seen in Nigeria then but he dismissed me as a pessimist.Today kwa? The kind lamentation he made when last we met is like if he finds Buhari,he'll lynch him.
Buhari for some strange reasons best known to him,made a bad situation worse.

44 Likes 4 Shares

Re: We Don't Have Money To Release, For Capital Projects: FG by dunkem21(m): 11:58am On Jul 15, 2016
Please borrow from China cool

15 Likes 2 Shares

Re: We Don't Have Money To Release, For Capital Projects: FG by 989900E: 12:30pm On Jul 15, 2016
Do something, too many excuses already.

8 Likes 4 Shares

Re: We Don't Have Money To Release, For Capital Projects: FG by lielbree: 1:36pm On Jul 15, 2016
What of all the refunded stolen funds?

I thought some people said Buhari foreign trips yielded billions of dollars in investments, what happened to all that money?

41 Likes 4 Shares

Re: We Don't Have Money To Release, For Capital Projects: FG by temptnow: 1:36pm On Jul 15, 2016
Buhari will never have our oil. Period

33 Likes 3 Shares

Re: We Don't Have Money To Release, For Capital Projects: FG by lielbree: 1:37pm On Jul 15, 2016
Buhari will never have our oil. Period [/quote]
I'm from rivers what state are u from?

5 Likes 1 Share

Re: We Don't Have Money To Release, For Capital Projects: FG by DanielPop(m): 1:38pm On Jul 15, 2016
Use the "returned" loot.....or na bobo una bobo Nigerians about returned loot? grin

10 Likes

Re: We Don't Have Money To Release, For Capital Projects: FG by henrylowe(m): 1:38pm On Jul 15, 2016
FG is becoming annoying these days

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Re: We Don't Have Money To Release, For Capital Projects: FG by HRich(m): 1:38pm On Jul 15, 2016
As if this useless and Stupid Government don't know that people are Surffering daily. God will judge Jage wherever he is.

15 Likes 1 Share

Re: We Don't Have Money To Release, For Capital Projects: FG by TippyTop(m): 1:38pm On Jul 15, 2016
Time to send Presidiot Buhari back to his cows. This olodo man is beyond useless.

Bubu please resign and go back to your cows, your cows need you more than Nigeria.

SAVE NIGERIA #impeachtheDullardnow.

43 Likes 4 Shares

Re: We Don't Have Money To Release, For Capital Projects: FG by roseyemi119(f): 1:38pm On Jul 15, 2016
undecided undecided undecided

1 Like

Re: We Don't Have Money To Release, For Capital Projects: FG by DeltahArmy(m): 1:39pm On Jul 15, 2016
I thought Diezeni returned $90B, can't the government use that money?

26 Likes 6 Shares

Re: We Don't Have Money To Release, For Capital Projects: FG by DanielPop(m): 1:39pm On Jul 15, 2016
Use "loot" recovered from "looters".......or na lie una lie to Nigerians? grin grin grin

#DayOfReckoning/

25 Likes 2 Shares

Re: We Don't Have Money To Release, For Capital Projects: FG by nell3: 1:40pm On Jul 15, 2016
Chaii niggas find ur way out of this shit hole or hussle yourself cos these mofos don't care abt us.recovered loot has gone gone missing again.there was a country

12 Likes 1 Share

Re: We Don't Have Money To Release, For Capital Projects: FG by paulchucks: 1:40pm On Jul 15, 2016
Shebi I told you that the dullard don't know where to begin and where to end

11 Likes 1 Share

Re: We Don't Have Money To Release, For Capital Projects: FG by PigMeat: 1:40pm On Jul 15, 2016
what happened to the money Jonathan and some corrupt pdpians returned secretly to the FG? The funny thing about lies and deception is that, when told u will have to be very careful(which is nearly impossible) so u dont make mistakes the next time u are called to back it up. Truth doesnt require any effort to keep(back) it up.

26 Likes 2 Shares

Re: We Don't Have Money To Release, For Capital Projects: FG by Sijo01(f): 1:41pm On Jul 15, 2016
This is how buhari under developed Nigeria cry

11 Likes 1 Share

Re: We Don't Have Money To Release, For Capital Projects: FG by HRich(m): 1:41pm On Jul 15, 2016
Nigeria of today.
FG HARSH.
SENATORS HARSH.
VICE PRESIDENT HARSH.
EFCC HARSH
Nigerians Dying Silently and shouting Sai Baba in Hunger.

16 Likes 2 Shares

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