Nigeria's Anniversary: Buhari Directs Release Of N600bn For Capital Projects - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (F.BA)
October 1, 2019
PresidentMuhammadu Buhari has directed the Ministry of Finance, Budget and NationalPlanning to release six hundred billion naira for Capital Expenditure inthe next three months.
ThePresident, who gave the directive today in his nationwide broadcast to markNigeria’s 59Independence Anniversary in Abuja, said thedirective was informed by his administration’s desire to significantly increaseinvestments in the nation’s critical infrastructure.
Accordingto Buhari, the implementation of the 2019 Capital Budget, which was onlyapproved in June 2019, will be accelerated to ensure that critical priorityprojects are completed or substantially addressed.
Henoted that the Federal Government had so far released one point seven trillionnaira for execution of various capital projects in 2018 fiscal year.
ThePresident explained that the exchange rate in the last three years had remainedstable, with robust reserves of forty two point five billion dollars, upfrom twenty three billion dollars in October 2016.