Nigerian government gives breakdown of N1.2trn released for capital projects in 2016
- Admin
- May 11, 2017
- 1 min read
Federal Ministry of Finance has announced that N1.2 trillion was released for capital projects in 2016.
This was contained in a statement signed by the ministry’s director of information, Salisu Na’inna Dambatta.
According to the statement, “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 such as Agriculture, Water Resources, Education and Health accounted for 62 per cent of total capital released.
Capital had been refocused on priority sectors to stimulate economic activities and job creation.
Minister of Finance, Mrs. 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”, she said.
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