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FG to release N900bn for capital expenditure by December

Zainab Shamshuna Ahmed
Minister of Finance, Budget and National Planning, Mrs. Zainab Shamshuna Ahmed.

The Minister of Finance, Budget and National Planning, Hajiya Zainab Ahmed, on Wednesday said her ministry plans to release up to N900 billion for capital expenditure by December.

The minister disclosed this while briefing State House Correspondents after the Federal Executive Council (FEC) meeting presided over by Vice President Yemi Osinbajo at the Presidential Villa, Abuja.

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She said the finance ministry has so far released the sum of N650 billion after President Muhammadu Buhari gave a directive for the release of N600 billion for capital expenditure in October when he submitted the budget to the National Assembly.

The minister spoke on the issue when told about the issue raised last week by the Minister of Works and Housing, Raji Fashola, that his ministry could not get all funds required to fix the roads.

She said it was true that the ministry had not been able to fund the budget 100 per cent.

She, however, added that the Ministry of Power, the Ministry of Works and Housing, as well as the Ministry of Transportation always get the priority whenever funds were released for capital projects.

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