Adeosun: FG Won’t Divert Capital Budget to Fund 2019 Elections

Analysts worry polls may hurt economy

The federal government will not divert its 2018 capital budget to finance the 2019 general elections, Minister of Finance, Mrs. Kemi Adeosun, has assured Nigerians.

The minister, who spoke at the weekend in Abuja, allayed fears that preparations for the elections might distract President Muhammadu Buhari from governance to politics, saying the federal government was committed to maintaining

the capital spending levels of the last two years in the election year.

Responding to enquiries during a lecture she delivered on behalf of Vice President Yemi Osinbajo to the National Defence College (NDC) Course 26 participants in Abuja, Adeosun stated that the Buhari administration would not engage in the diversion of the capital project funds to the forthcoming elections.

“The administration remains committed to infrastructure spending at the high levels of the past two years and the completion of major ongoing projects,” she told the participants made up of senior military brass.

She further reiterated the commitment of the administration to its programme of transformation and jobs and wealth creation across the country.

President Buhari had on November 7, 2017 presented a budget of N8.612 trillion to the National Assembly, with focus on massive infrastructure development, including: key strategic roads, rail and power projects, among others.

In the lecture entitled “Economic Dimensions of National Security: The Nigerian Experience,” Osinbajo had said improvement in economic security was vital to Nigeria’s economic growth, human security improvement and realisation of national defence and security requirements.

He assured that the federal government would continue to play a key role in ensuring national cohesion by promoting social inclusion as a key state objective.

He said: “Economic development is a springboard for improved national security because it comes with growth, which enables more resources for a growing population.

“National economic development means that a country can meet its national security needs without depending on outsiders for the provision of its defence and security needs. Depending on food and energy imports makes a nation vulnerable to external pressure.”

He disclosed that the administration adopted the Economic Recovery and Growth Plan (ERGP) as a response to the recession towards restoring growth and reducing Nigeria’s vulnerability to external shocks.

He explained that the ERGP was initiated to address macroeconomic balance, increase contribution of agriculture, manufacturing, mining and high value services to the economy, build a competitive economy through the provision of infrastructure, and invest in the Nigerian people.

On the Social Investment Programme, the vice president revealed that about 200,000 N-Power jobs had been created under the programme while 250 million meals had been served under