The Minister of Finance, Mrs Kemi Adeosun and Minister of National Planning, Senator Udo Udoma have appeared before the Senate committee on Appropriation, to give a breakdown of the level of implementation of the 2016 budget in terms of releases.
The Minister of National Planning, Udo Udoma, says so far 753 billion has been released for capital expenditure while 1.2 trillion is for personnel cost.
He said that the Federal government is short of funding and has not been able to release 100% funds for overhead.
Senator Udoma stated that the Federal Government has only released up to eight months for overhead cost.
Mrs Adeosun said that although the government is recovering looted funds almost on a daily basis, it has been facing legal constraints in recovering looted funds stacked abroad.
President Goodluck Jonathan has sworn in four new ministers who he said would help beef up the performance of the administration.
The ministers were sworn in on Tuesday. They include the former Governor of Kano State, Ibrahim Shekarau, as the Minister of Education, Dr. Steve Oru as the Minister for the Niger Delta, Prince Clement Adeyeye as Minister of State for Works and Abdul Bulama as Minister of Science and Technology.
Bashir Yuguda is the substantive Minister of National Planning and Minister of State for Finance, while Yesom Wike returns to his former position as the Minister of State for Education.
Addressing the new ministers, the President told them that their service was to the country and Nigerians. He charged them to bring their experience to bear in this last lap of the tenure, charging them that Nigerians expect nothing but the best performance.
The swearing-in ceremony, which came before the commencement of the weekly Federal Executive Council at the council chambers, was witnessed by the Vice President, Namadi Sambo, other Ministers, friends and well-wishers of the new ministers, including the Governor of Delta State, Dr. Emmanuel Uduaghan.
The swearing-in ceremony was followed by the decoration of President Jonathan, performed by the Corp Marshal of the Federal Road Safety Corp, Mr Ostia Chidoka, as the Grand Patron of the Special Marshal of the Nigerian Road Safety Commission
The decoration was in recognition of the President’s reform programmes in the road sector.