The Federal Government has said it released N1.2 trillion naria for capital expenditure in 2016.

Director of Information in the Ministry of Finance, Salisu Dmbatta said in a statement that Power, construction and housing sectors gulped the largest chunk of the releases made in 2016.

He said the Federal Government ability to cash back capital releases of N1.2 trillion was a reflection of its commitment to infrastructure development.

According to him, Power, Works and Housing received the largest release of N307.4 billion. Defence and Security got N171.9 billion, while Transport and Aviation received N143.12 billion.

Dambatta said other sectors such as Agriculture and Water Resources, Education and Health also received huge allocations and accounted for 62 percent of the total capital released in line with the Federal Government’s priority to stimulate economic activities and job creation.

He said the capital releases excluded the capital element in releases to statutory agencies such as the Independent National Electoral Commission (INEC) and the Judiciary.

Capital expenditure was estimated to be N1.8 trillion in the 2016 budget.


Please enter your comment!
Please enter your name here