The federal government has said all is set to release the sum of N750 billion to federal Ministries, Departments and Agencies (MDAs) from the capital allocation of the 2017 budget.
Minister of Finance Kemi Adeosun made this known in series of tweets in which she said the sum would be made available to MDAs this week in earnest.
“This week @FinMinNigeria will release 750 billion Naira to Federal Ministries, Departments and Agencies (MDAs), from the capital allocation of the 2017 Budget.
“This will take the amount released so far in the budget, for infrastructure projects, to 1.2 Trillion Naira,” she tweeted.
She went further to say, “We are focused on providing #Nigeria with the enabling infrastructure required to drive investment, economic growth, and prosperity.
“In the 2016 budget we released 1.2 Trillion for capital projects. By the end of 2017, we’d have matched that figure in the 2017 budget”.
Giving a brief update on the budget 2017, which was passed by the National Assembly in May 2017 and assented to by Vice President Yemi Osinbajo as Acting President in June, the finance minister noted that N350 billion was released in Q1 and Sukuk Bond of N100 billion released in October.
She said the latest release of N750 billion, which will happen in this December, will take the total capital releases to N1.2 trillion so far.
This week @FinMinNigeria will release 750 billion Naira to Federal Ministries, Departments and Agencies (MDAs), from the capital allocation of the 2017 Budget. This will take the amount released so far in the budget, for infrastructure projects, to 1.2 Trillion Naira.
— Kemi Adeosun (@HMKemiAdeosun) December 12, 2017
We are focused on providing #Nigeria with the enabling infrastructure required to drive investment, economic growth, and prosperity. In the 2016 budget we released 1.2 Trillion for capital projects. By the end of 2017, we'd have matched that figure in the 2017 budget.
— Kemi Adeosun (@HMKemiAdeosun) December 12, 2017
