FG releases 336billion Naira from 2017 budget for capital projects

The federal government said it has released a total of 336 billion Naira from the 2017 budget to federal ministries, departments and agencies for funding of capital projects in the first quarter of 2017.
Deputy director of information in the ministry of finance, Patricia Deworitshe, said in a statement that power, works and housing received the largest allocation of N90 billion, followed by defence and security which got N71 billion, while transport got N30 billion.
The statement added that agriculture received N30 billion and water resources got N12 billion while other sectors combined, received a total sum of N103 billion.
Minister of finance, Kemi Adeosun, said the prioritization of the release of available funds was made in accordance with the objectives of the Economic Recovery and Growth Plan saying that in 2017, the federal government would continue to focus on capital expenditure spending on priority sectors to stimulate economic activities and job creation.



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