Fed Govt releases N250b for Q3 capital projects
The Federal Government has released N250 billion for capital projects for the third quarter.
The Special Adviser to the Coordinating Minister for the Economy and Minister of Finance, Mr Paul Nwabuikwu, said the funds would be deployed to expedite the execution of key infrastructure, security and social projects in the 2013 Budget.
He explained in a statement that the funds were being released, “in line with the priorities set out by President Goodluck Jonathan,” adding that with the release of this new capital project funds, a total of N850 billion has so far been injected for capital projects this year.
He explained that utilisation of the released funds for capital projects for the year has also attained the 71 per cent mark.
He said all the funds released so far have been cash-backed, adding that N400 billion and N200 billion respectively were released for capital projects in the first and second quarters of the year.
Nwachukwu said the implementation of various capital projects across the country were on-going, stressing that currently, utilisation of the released funds for capital projects for this year stands at 71 per cent.
The Special Adviser to the Coordinating Minister for the Economy and Minister of Finance, Mr Paul Nwabuikwu, said the funds would be deployed to expedite the execution of key infrastructure, security and social projects in the 2013 Budget.
He explained in a statement that the funds were being released, “in line with the priorities set out by President Goodluck Jonathan,” adding that with the release of this new capital project funds, a total of N850 billion has so far been injected for capital projects this year.
He explained that utilisation of the released funds for capital projects for the year has also attained the 71 per cent mark.
He said all the funds released so far have been cash-backed, adding that N400 billion and N200 billion respectively were released for capital projects in the first and second quarters of the year.
Nwachukwu said the implementation of various capital projects across the country were on-going, stressing that currently, utilisation of the released funds for capital projects for this year stands at 71 per cent.
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