Sunday, March 3, 2024

FG releases N285bn for capital projects

The Federal Government has released N285billion for capital projects from the 2020 budget.

The Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed this in Abuja on Friday.

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Ahmed spoke after a meeting with President Muhammadu Buhari at the State House.

“The releases were done as of Tuesday, this week,” she explained.

The minister said Ministries, Departments and Agencies handling critical infrastructure, including the Ministry of Transportation, Ministry of Works & Housing and the Ministry of Niger Delta Affairs got the releases.

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She added that another $220million was released as counterpart funding for railway projects by the Ministry of Transportation.

The budget of N10.59trillion is now facing implementation challenges amid the crash in crude oil prices owing to the outbreak of Coronavirus.

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