Federal Government Begins Actualization of Capital Projects with N400 Billion

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Nigerian Minister of Finance Kemi Adeosun at a press briefing in Abuja, Nigeria August 19, 2016. Photo/Theherald.ng

The Nigerian government has commenced the stipulated plans in the 2016 budget to liberate the economy of the nation. The government has released the total sum of N400 billion to implement capital projects across the country.

Briefing journalists on the state of the economy in the country on August 19, 2016, the Minister of Finance, Kemi Adeosun confirmed that N400 billion has been released since the month of May after signing the 2016 budget, in order to commence capital projects.

Adeosun also confirmed the release of another N60 billion by the federal government for the same capital market purpose. She explained that all the efforts of the FG to curb the present economic recession will soon yield results.

The finance minister added that Nigeria has recovered N165 billion from pay roll clean-ups and some unmentioned amount from looters, which the department has already pumped into circulation to bridge the gap of inflation.