Only Ministries, Departments and Agencies, MDAs with development plans will have access to the N350b earmarked by the Federal Government for capital projects in the second quarter of 2016, says the Minister of Finance, Mrs Kemi Adeosun.
The fund is seen to be Federal Government's effort to affirm its commitment to fully implement the 2016 budget, in spite of its late signing into law.
However, Daily Sun reports that MDAs may frustrate the Federal Government’s resolve to implement the budget 100 per cent as only the Ministry of Power has presented its development plan.
The Finance Minister had in March warned that the economy stimulation fund would not be used to pay expatriate workers.
“We are already discussing with some of the contractors who will be paid these monies and the objectives from the overall criteria is how many Nigerians would be re-engaged. We are specifically looking at contractors who have laid off staff and how many Nigerians are you going to put back to work as a result of this money we are planning to release. We believe this would bring significant economic activity,” she said.
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