Money released for capital projects to federal ministries, departments and agencies, MDAs, from the 2016 budget, have surpassed a record N1 trillion, the Minister of Finance, Kemi Adeosun, has disclosed.

Mrs. Adeosun described the achievement as the highest ever budgetary release in Nigeria’s annual funding for capital projects.

“So far, N1trillion has been released on capital allocations. This is the highest so far in the history of this country,” the minister said.

“With the current stability in (crude) oil prices and the return of normalcy in Niger Delta, I am sure we will do more this year (2017),” she said.

The Minister disclosed the figures in an interactive exchange with members of the House of Representatives Tactical Committee on Recession in her office in Abuja.

She said the amount was released for various projects proposed in the 2016 budget, including the commencement of the construction of a dual standard railway line that would link Lagos and Kano, rehabilitation of roads, expanding irrigation facilities to boost agriculture and the upgrading of aviation infrastructure throughout the country.

Details of the releases, the minister explained, include aggregate releases to the MDAs of N870.1billion as at the end of February 2017 and additional releases of N65.4 billion.

Other releases included manual authority to incur expenditure (AIEs) in February 2017 (N11.18 billion) and an additional manual AIEs worth N45.8billion as at March 13, 2017.


Mrs. Adeosun noted that the overall capital releases totalling N992.4 billion had significantly impacted the country’s economy, by creating jobs, stimulating economic activities in communities and upgrading infrastructure, thereby improving the wellbeing of Nigerians.

She said contractors returning to project sites around the country have employed workers, contributed to economic growth and improved the wellbeing of Nigerians in line with the strategic objectives of the present administration.

“We are determined to transform the economy. This is why we are focused on capital expenditure. If we have our rails, road and power, then we will be able to generate jobs and prosperity,” she said.

The release of the capital vote in the budget is in line with government’s drive to devote more resources for the execution of capital projects, especially the upgrade of the country’s infrastructure to provide the enabling environment for investment in the economy.

The Executive Council of the Federation in its meeting on March 22, 2017 had approved the reconstruction of 12 more major highways across the country for N80 billion as part of efforts to boost transportation in the country.

http://www.cospileaks.com/index.php/2017/03/26/buharis-administration-have-released-1trillion-naira-for-capital-project-kemi-adeosun/

That will be pocket by polithiefians

Stc
Im getting closer to it

profhezekiah:
That will be pocket by polithiefians

That Era is gone


There is no way we can get rid of corruption 100%

But let the better part of the money accrued to a project be used .


let's see something tangible

while we keep fighting & blocking loopholes where corruption thrives


with his we will get there

Generation yet unborn will pray and be proud of us

Buhari means business



Thank you come again

Where is the money?

- settled APC presidential support committee
Eg Tinubu, Amaechi Atiku others

How??

What did Buhari use the money for??

Did he increase salaries or wat??

Keneking:
Where is the money?

- settled APC presidential support committee
Eg Tinubu, Amaechi Atiku others

Jokerman:
How??

What did Buhari use the money for??

Did he increase salaries or wat??

The two of you must be living in another planet different from earth.

It's very visible even to the blind that this administration has recorded better success in building and repairing of roads than what the last one did in more than five years.

Jokerman:
How??
What did Buhari use the money for??
Did he increase salaries or wat??

Ask Google

And they deluded Minister expects a clap?

Someone should please tell him that that figure is just about N300b due to the avoidable inflation they've inflicted on the economy.

DropShot:


The two of you must be living in another planet different from earth.

It's very visible even to the blind that this administration has recorded better success in building and repairing of roads than what the last one did in more than five years.

You expect me to believe a BMC like you... don't worry now, sheybe another govt will enter power and expose this govt...

Jonathanians never believed his govt will be exposed too..

Keep lying, covering and stealing

sarrki:



Ask Google

What are you being paid for??

Jokerman:


You expect me to believe a BMC like you... don't worry now, sheybe another govt will enter power and expose this govt...

Jonathanians never believed his govt will be exposed too..

Keep lying, covering and stealing

Everyone, to a wailing zombie is a BMC (whatever that means) once he can't provide a reasonable argument.

The money should be focused on power; this will trigger growth in other aspects of the economy; It is two years plus and no new power plant is being constructed.

Where is the money?

I trillion??

The evil in APC. Even Devil will cut cap for this thieves.

Good riddance.

Another bmc headline. See how they've flooded the thread. Smh