The Federal Government has announced the release of N280 billion for the implementation of capital projects that were captured in the 2016 budget.
The money is said to be part of the N380 billion the federal government had earlier promised to release for capital projects.
This was stated on Tuesday by the Minister of States for Budget and Planning, Hajia Zainab Ahmed, who added that six key ministries – Works, Housing and Power, Agriculture, Interior, Education, Information and Environment, have been captured in the first phase of the funds.
The released funds are however for projects that had already been scrutinized and ongoing.
According to the minister, who spoke at a one day workshop for the review and implementation of the 2016 budget in Abuja, the names of 60 Ministries, Departments and Agencies (MDAs) have been sent to the Federal Ministry of Finance for approval.
Ahmed also hinted that government would not release money for any new project but only for those that are ongoing, adding that the names of another batch of about 30 MDAs where the screening process had been concluded would be sent to the finance ministry on Wednesday.
She said: “The release of the N350 billion is ongoing but of course, as I presented, we were not releasing budgets based on one quarter allocation. We needed to scrutinize the process. It took some time but we have sent about N280 billion for projects that have been scrutinized.
“As I said earlier on, the release will be done for specific projects. Our concentration was on projects that are ongoing, except for a few exceptional circumstances; we are not releasing funds for any new projects.
“We have reviewed their projects, approved them and have sent them to the ministry of finance.”
RipplesNigeria …without borders, without fears
Join the conversation
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.
SPECIAL REPORT: Lack of legal provisions, cultural sentiments fueling marital r*pe in Nigeria
By Arinze Chijioke In the early days of Sandra Izuckukwu’s marriage in 2019, her husband, Sunday Izuchukwu, did everything she...
INVESTIGATION… LIVES ON THE LINE (IV): Surviving in a dangerous media environment
This investigation is on the unresolved killing of three Nigerian journalists while on assignments between 2019 and 2020. For six...
INVESTIGATION… LIVES ON THE LINE (III): Precious Owolabi was killed covering a protest
This investigation is on the unresolved killing of three Nigerian journalists while on assignments between 2019-2020. For six months, Nigerian...
INVESTIGATION… LIVES ON THE LINE (II): Alex Ogbu was telling a story but became the story
This four-part series investigation is on the unresolved killing of three Nigerian journalists while on assignments between 2019 and 2020....
SPECIAL REPORT… TELECOMS BLACKOUT: Nigeria’s latest tactic against banditry grounds businesses, forcing residents beyond borders
The fight against notorious bandits raining terror and kidnapping students in Northwest Nigeria took a new dimension in September as...