by Omoleye Omoruyi
The Federal Ministry of Finance in a statement signed by the ministry’s Director of Information, Salisu Na’inna Dambatta, gave the breakdown of the N1.2 trillion released for capital projects in 2016.
The statement says, “Power, Works and Housing received the largest allocation of N307,411,749,682 followed by Defence and Security, N171,900,597,013 and Transport and Aviation, N143,121,925,241”.
Other sectors, Agriculture, Water Resources, Education and Health contained 62 percent of total capital released.
Minister of Finance, Kemi Adeosun, said, “Despite the challenges in 2016, the Federal Government was able to achieve fully cash-backed capital releases of N1.2 trillion, which is a reflection of our commitment to infrastructure development.
“These capital releases exclude the capital element in releases to statutory agencies such as the Independent National Electoral Commission (INEC) and the Judiciary.
“As we go forward, the Government intends to attract private capital to compliment Government spending in these key areas”.
Omoleye Omoruyi… an apprentice web/game developer, novelist, sensitive to happenings in the world. Meet him @Lord_rickie on Twitter/Instagram
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