Nigeria’s government has withdrawn 250 billion naira ($1.6 billion) from its excess crude account savings this year, BusinessDay reported, without saying how it got the information.
While recurrent expenditure is meeting budget targets, investment was only 34 percent of the full-year target in the first half of 2011, the Lagos-based newspaper said.
http://www.bloomberg.com/news/2011-08-04/nigeria-takes-1-6-billion-from-crude-account-businessday-says.html

The spending extravaganza continues as the FG still spends aimlessly- not on health, education or any other real sector in the economy but mostly on the recurrent expenditure.
At this rate, the interests rate from bank would soon be 30% and Naira would soon start exchanging for $200 making it impossible for any development. Where is the Finance Minister anyway, I thought she was due to start on Monday?