The Federal Government said it released a total of N1.2 trillion to finance capital projects as contained in the 2016 budget. The figure was released by the Ministry of Finance through a statement issued by the Director of Information, Salisu Dambatta.
The N6.06 trillion 2016 budget, which closed on May 6, 2017, had a capital vote of N1.58 trillion, which was about 26 per cent of the total budget size. The statement said the releases were made in line with government’s increased focus on capital expenditure, adding that power, works and housing received the largest allocation of N307.41 billion.
These were followed by defence and security, N171.9 billion; and transport and aviation, N143.12 bn. Other sectors that received huge amounts, according to the statement, are agriculture, water resources, education and health, which accounted for 62 per cent of total capital released.