FG Released N2.5Tn for Capital Projects in 2016, 2017
Mr Ben Akabueze, Director General, Budget Office of the Federation, said yesterday, 26th of March, 2018 that the Federal Government released about N2.45 Trillion for capital projects from 2016 and 2017 budgets. Ben Akabueze disclosed this in an interview with the News Agency of Nigeria (NAN) in Abuja.
Recall that N6.06 Trillion was the total budget for 2016, including N1.75 Trillion for Capital Projects while N2.18 Trillion was for Capital Expenditure in the 2017 budget of N7.298 Trillion. The Director General said N1.2 Trillion was released for the implementation of Capital Projects in 2016. “This (N1.2 trillion) is the highest amount released so far by the Federal Government. Over 1Trillion was utilized by Ministries, Departments and Agencies, MDAs.
“Overall, of the total budgeted sum of 6.06 Trillion in 2016, the sum of 5.36 trillion accounts for the total expenditure, leaving a balance of 0.7 Trillion,” he said. The Director General said the figure indicated an overall performance of 88.43 per cent, adding that the implementation of 2016 budget was remarkable.
“With regard to 2017 budget, about N1.248 Trillion has been released for Capital Projects. MDAs have so far accessed about 70 per cent of this amount,” he said. He however noted that the MDAs had included about 50 per cent of the Capital Projects budgeted for in 2017 in the 2018 budget. Akabueze said that the implementation of the 2017 budget would be ongoing until the 2018 budget was approved.