FG Releases N336bn Capital Vote

The federal government has clarified that it has released a total of N336bn from the 2017 budget to ministries, departments and agencies (MDAs) for funding of capital projects in the first quarter of 2017.

The Ministry of Finance, in a statement, said the balance of N14 billion was being processed, pending the resolution of some formalities within the agencies concerned, to bring the total to N350 billion.

At the public presentation of the 2017 budget in Abuja onJune 19, 2-17, the Minister of Finance, Mrs. Kemi Adeosun had assured that the government was ready to release N350 billion for capital projects, immediately.

Giving a breakdown of the N336 billion so far released, the ministry said Power, Works and Housing received the largest allocation of N90 billion; followed by Defence and Security which got N71 billion.

Transportation received N30 billion. Agriculture received N30 billion, and Water Resources got N12 billion, other sectors combined, received a total sum of N103 billion.

The N7.44 billion 2017 Budget has a capital component of N2.36 trillion has a provision of N553.71 billion for Power, Works and Housing.

Also, N241.71 billion for Transportation; N150 billion for Special Intervention Programmes; N139.29 billion for Defence; N104.24 billion for Water Resources; N81.73 billion for Industry, Trade and Investment; N63.76 billion for Interior; N151.91 billion for Education (including Universal Basic Education Commission); N55.61 billion for Health; and, N103.79 billion for Agriculture.