Nigeria In One Minute
2017 Budget: FG Keeps Mum on Capital Releases
There are indications that the federal government may be having difficulties funding the capital component of the N7.44 trillion 2017 Budget as none of the ministries, departments and agencies (MDAs) could confirm to THISDAY as at Monday, the release of any capital vote to them, three months after the appropriation bill was assented to by Vice-President Yemi Osinbajo, who was then acting president.
The budget with a capital vote of N2.36 trillion, which was passed by the National Assembly on May 9, 2017, was assented to by Osinbajo on June 12, 2017.
At the public presentation of the budget in Abuja on June 19, 2017, the Minister of Finance, Mrs. Kemi Adeosun, had assured Nigerians that funds were at the disposal of the government to immediately release N350 billion for capital projects.
However, THISDAY investigations have cast some doubt not only on government’s promise to release the funds as soon as the budget was signed but also its capacity to fund the entire capital vote.
THISDAY, September 26, 2017
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