FG To Release N350bn For Capital Projects

Channels Television  
Updated June 19, 2017

The Federal Government plans to release a total of 350 billion Naira for capital projects across the country.

Speaking at the public presentation of the 2017 Appropriation Act in Abuja, the Minister of Finance, Mrs Kemi Adeosun said this will address the infrastructural needs in the country.

Mrs Adeosun also said other capital releases will follow afterwards to allow for the needed development.

Just few weeks ago, vice president, Yemi Osinbajo assented to the 2017 budget making it an act of the law.

Read Also: Udo-Udoma Presents 2017 Budget

The Minister of Budget and National Planning, Udo Udoma, on his part stressed the need to prioritise the nation’s security by providing more funds for the ministries of interior and defence.

“The security of the nation has to be the number one priority of government and so we have to make sure that interior as well as defence, as you can see N472b for interior and N330b for defence, (are considered),” he said.

Mr Udoma said government would focus on ongoing critical projects aimed at improving the level of industrialisation in the country.

“We are to focus on critical ongoing infrastructure projects such as roads, railway and power, to utilise the special economic zones and industrial parts, to support the development of manufacturing which had been very, very challenged over the years; and then contributing to food security and creating a platform for agro-business,” he added.