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FG Releases N460b From 2018 Budget For Capital Expenditure


The Minister of Budget and National Planning, Mr. Udo Udoma, has said that says the Federal Government has so far released N460 billion from the 2018 Budget for capital projects.

The minister said this on Wednesday, while fielding questions from Nigerian journalists on the sidelines of the ongoing IMF and World Bank Group Annual Meetings in Bali, Indonesia.

Udoma also said that the Federal Government was waiting for the resumption of the National Assembly, which had gone on recess, to finalise and present its 2018 borrowing plan to support the budget.

“You know that President Muhammadu Buhari has sent a letter to the National Assembly, asking for the approval of the borrowings to support the 2018 budget and the National Assembly has been on recess over the last two months.

“They (National Assembly) did not deal with it but they are back and we are optimistic; once they approve the borrowing plan, we will be able to move very quickly,” he said. [NAN]

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