Why We Are 💰Releasing N1.1trillion by End🗓 of December: FG

  |   Nigeria News

The Minister of Finance, Mrs Zainab Ahmed, says the Federal Government is working towards ensuring it pushes its releases for capital projects from the 2018 budget to N1.1 trillion by the end of December.

The minister said this while answering questions at the public presentation of the 2019 budget highlights on Thursday in Abuja.

President Muhammadu Buhari, while presenting the 2019 Budget estimates to a joint session of the National Assembly on Wednesday, said that in spite of the delay in the passage of the 2018 Budget, N820.57 billion had been released for capital projects as at Dec. 14.

He unveiled a federal budget of N8.83 trillion for the 2019 fiscal year, N300 billion lower than the N9.1 billion being implemented for the current fiscal year.

According to Buhari, N4.04 trillion or 50.31 per cent is earmarked for recurrent expenditure and N2.03 trillion representing 22.98 per cent earmarked for capital projects.

Other estimates are N492.36 billion for statutory transfers, N2.14 trillion for debt servicing and provision of N120 billion as sinking fund.

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