FG Releases N250 Billion For 3rd Quarter Capital Projects
Posted by: Channels Television date: August 23, 2013 In:
The Federal Ministry of Finance has released the sum of N250 billion for capital projects for the third quarter of the year, a statement by the Special Assistant on Media to the coordinating Minister of the Economy and Minister of Finance, Paul Nwabuikwu said.

The statement added that “In line with the priorities set out by President Goodluck Jonathan, the funds will be deployed to expedite the execution of key infrastructure, security and social projects captured in Budget 2013”.

“The latest figure means that a total of N850 billion has so far been released for capital projects this year”.

The statement further added that “Also, all the funds released have been cash-backed”.

Nwabuikwu “recalled that N400 billion and N200 billion respectively were released for capital projects in the first and second quarters of the year”.

He also said that “Implementation of various capital projects across the country is ongoing and currently, utilization of the released funds for capital projects for this year stands at 71 (per cent) %”.

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