FG releases N300billion to MDAs for Q3

Channels Television  
Updated August 17, 2012

The sum of N300billion has been released as capital budget for the third quarter to Ministries, Departments and Agencies.

Nigeria's Finance Minister Ngozi Okonjo-Iweala speaks during a news conference in the capital Abuja

The Minister of Finance, Dr Ngozi Okonjo-Iweala who disclosed this in Abuja on Thursday, stated that so far, N704billion has released between the first and third quarter.

Dr Okonjo-Iweala further pointed out that the utilization of the N404billion released in the first and second quarter of the year had risen to 65 per cent.

In response to allegations by some oil marketers over non-payment of subsidy claims, she said the federal government is willing to dialogue with oil marketers who feel they have been short-changed.