Vice President, Professor Yemi Osinbajo on Thursday said Nigeria will spend N100 billion ($312.50 million) on capital projects in the coming days as part of the 2016 budget.
Osinbajo made the remark while speaking at the 2016 Presidential Policy Dialogue organised by the Lagos Chamber of Commerce and Industry.
He said government capital spending so far has reached N332 billion.
“Another N100 billion will be released in the next few days to fund power, housing, transport, agricultural and defence projects.
“We have pledged to keep capital spending at a minimum of 30 percent (of the 6.06 trillion naira budget)” .
The Vice President also said many states in the country were still struggling to pay the salaries of civil servants, despite assistance from the Federal Government.
He said a float of the Naira and more flexible foreign currency regime in June had eased pressure on foreign reserves, without giving details.
“I believe there will be an increase in supply of foreign exchange,” he said.
Dolapo is a writer and journalist who works with YNaija. He has interests in Christianity, politics and sports.
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