Federal government releases one trillion Naira capital to MDAs

Minister of Finance, Kemi Adeosun has said capital releases to Federal Ministries, Departments and Agencies-MDAs for the 2016 budget had reached a record One trillion Naira.

In a statement by the Director of Information, Ministry of Finance, Salisu Danbatta in Abuja, Adeosun attributed the record performance to stability in oil prices.

She said that with the return of normalcy in Niger Delta, she was confident that the Federal Government would achieve even more in the 2017 Budget and added that the amount was released for various projects, which included the construction of a dual standard railway line from Lagos to Kano and rehabilitation of roads, as well as the expansion of irrigation facilities to boost agriculture and the upgrading of aviation infrastructure.

Adeosun said the overall capital releases, totaling N992. 44billion, had made impact on Nigeria’s economy through creation of jobs and stimulation of economic activities in communities.



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