Connect with us

Business

BUDGET 2017: Nigerian Govt to release N750bn to MDAs this December

Published

on

BUDGET 2017: Nigerian Govt to release N750bn to MDAs this December

The Minister of Finance, Kemi Adeosun has revealed that her ministry will this week release N750 billion to Federal Ministries, Departments and Agencies (MDAs) from the capital allocation of the 2017 Budget.

According to her, This will take the amount released so far in the budget, for infrastructure projects, to N1.2 Trillion.

She stated on Tuesday on her Twitter handle, that “We are focused on providing Nigeria with the enabling infrastructure required to drive investment, economic growth, and prosperity.

Read also: Oando challenges technical suspension by SEC at Appeal Court

“In the 2016 budget we released N1.2 Trillion for capital projects. By the end of 2017, we’d have matched that figure in the 2017 budget”.

The 2017 budget was passed by the National Assembly in May 2017, and assented to by Vice President Temi Osinbajo, who was at that time the Acting President on June 1, 2017.

So far, the ministry has released the sum of N1.2 Trillion. N350 billion was released in the first quarter of the year, and N100 billion was released from Sukuk Bond release in October.

 

RipplesNigeria… without borders, without fears

Click here to join the Ripples Nigeria WhatsApp group for latest updates.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now

Investigations