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LequteMan
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Nigeria's Finance Ministry has released details of how N1.2tr allocated to capital expenses in the 2016 budget was spent.
Minister of Finance, Mrs. Kemi Adeosun said: “Despite the challenges in 2016, the Federal Government was able to achieve fully cash-backed capital releases of N1.2 trillion, which is a reflection of our commitment to infrastructure development.”
Power, Works and Housing received the largest allocation of N307,411,749,682, followed by Defence and Security, which got N171,900,597,013 and Transport and Aviation, which got N143,121,925,241.
Other sectors were Agriculture and Water Resources; and Education and Health. These sectors accounted for 62 per cent of total capital released.
"We have focused our capital spend on priority sectors to stimulate economic activities and job creation," she added.
Minister of Finance, Mrs. Kemi Adeosun said: “Despite the challenges in 2016, the Federal Government was able to achieve fully cash-backed capital releases of N1.2 trillion, which is a reflection of our commitment to infrastructure development.”
Power, Works and Housing received the largest allocation of N307,411,749,682, followed by Defence and Security, which got N171,900,597,013 and Transport and Aviation, which got N143,121,925,241.
Other sectors were Agriculture and Water Resources; and Education and Health. These sectors accounted for 62 per cent of total capital released.
"We have focused our capital spend on priority sectors to stimulate economic activities and job creation," she added.
