FG will Release 100 Billion Naira for Capital Projects


VP, Yemi Osinbajo says the federal government will release a hundred billion naira for capital projects.

This addition will bring the Federal Government’s spending to 332 billion naira, Reuters reports.

“Another 100 billion naira will be released in the next few days to fund power, housing, transport, agricultural and defense projects, he says “We have pledged to keep capital spending at a minimum of 30 percent,” he adds.

The fund is part of the tranche disbursement from the 2016 budget.

On another note, a clearer picture of the economy will be up once GDP data for Q2 is released.

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