FG To Release N350bn For Capital Projects

The federal government has concluded plans to release N350bn naira from 2017 budget for capital projects across the country.

The Minister for Finance, Mrs. Kemi Adeosun while speaking at the public presentation of 2017 appropriation act, said this will address the infrastructural needs in the country.

Mrs Adeosun also said other capital releases will follow afterward to allow for the needed development.

Just few weeks ago, vice president, Yemi Osinbajo assented to the 2017 budget making it an act of the law.

The Minister of Budget and National Planning, Udo Udoma, on his part stressed the need to prioritise the nation’s security by providing more funds for the ministries of interior and defence.

“The security of the nation has to be the number one priority of government and so we have to make sure that interior as well as defence, as you can see N472b for interior and N330b for defence, (are considered),” he said.

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According to him, the government would focus on ongoing critical projects aimed at improving the level of industrialisation in the country.

He added, “We are to focus on critical ongoing infrastructure projects such as roads, railway and power, to utilise the special economic zones and industrial parts, to support the development of manufacturing which had been very, very challenged over the years; and then contributing to food security and creating a platform for agro-business.”