Capital projects: FG releases N280b

The Federal Government on Tuesday announced the release of N280 billion for the implementation of capital projects  in the 2016 budget.

The money is part of the N350 billion set aside to fund capital projects in the fiscal year. .

Six key ministries – Works, Housing and Power, Agriculture, Interior, Education, Information and Environment were captured in the first phase of the funds.

The government said that the money is for ongoing projects which have already been verified.

The Minister of State for Budget and National Planning, Hajia Zainab Ahmed, said the names of 60 Ministries, Departments and Agencies, MDAs have been forwarded to the Federal Ministry of Finance for approval.

She said that the released funds would be used to execute specific projects, adding that government would not release money for any new projects.

Zainab spoke at a one day workshop for the review and implementation of the 2016 budget in Abuja on Tuesday.

She said that another batch of about 30 MDAs would be sent to the finance ministry on Wednesday.

The event was organized by a civic technology organization, BudgIT Nigeria.

“The release of the N350 billion is ongoing but of course, as I presented, we were not releasing budgets based on one quarter allocation. We needed to scrutinize the process. It took some time but we have sent about N280 billion for projects that have been scrutinized.

“As I said earlier on, the release will be done for specific projects. Our concentration was on projects that are ongoing, except for a few exceptional circumstances; we are not releasing funds for any new projects.

“We have reviewed their projects, approved them and have sent them to the ministry of finance.

“We have sent to the ministry of finance up to about 50 or 60 MDAs, but I can tell you that Works, Housing and Power, Agriculture, Interior, Education, Information and Environment are part of the ministries that we have sent to the finance ministry.

“There are about 60 MDAs already in the first batch. We have another batch of about 30 where the screening process had been concluded and we should be able to send that today (Tuesday) or tomorrow (Wednesday),” she said.