Udoma Speaks On The N460bn Released For Capital Expenditure

The Minister of Budget and National Planning, Mr. Udoma Udo Udoma,  earlier today revealed that the Federal Government has so far released N460 billion from the 2018 Budget for capital projects.

N460bn released from 2018 Budget for capital expenditure – Udoma

Mr. Udoma Udo Udoma, the Minister of Budget and National Planning, says the Federal Government has so far released N460 billion from the 2018 Budget for capital projects. https://t.co/41yEHFXGqv pic.twitter.com/QzxerfgYdC

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The minister said this while fielding questions from Nigerian journalists on the sidelines of the ongoing IMF and World Bank Group Annual Meetings in Bali, Indonesia.

Udoma also said that the Federal Government was waiting for the resumption of the National Assembly, which had gone on recess, to finalise and present its 2018 borrowing plan to support the budget.

“You know that President Muhammadu Buhari has sent a letter to the National Assembly, asking for the approval of the borrowings to support the 2018 budget and the National Assembly has been on recess over the last two months.

“They (National Assembly) did not deal with it but they are back and we are optimistic; once they approve the borrowing plan, we will be able to move very quickly,” he said.