Finance ministry releases N753bn to ministries, agencies

The federal ministry of fiance has released details of N753,633,667,464 it released for capital projects for Ministries, Departments and Agencies (MDAs) from the 2016 budget allocation.

In the breakdown, the ministry of power gets the largest share with N209,246,760,165, Below is the breakdown: Defence: N69,512,363,730, Transport N30,540,042,428; Agriculture: N29,578,929,050; Water Resources: N25,201,857,951; Interior: N21,210,059,596; READ ALSO: President Buhari Seeks Withdrawal Of Budget 2016 Health: N18,472,539,524; Education: N16,743,672,981; Niger Delta: N8,161,196,486; Science and Technology: N6,681,349,721; Mines & Steel: N3,360,000,000; Petroleum: N2,413,847,044 Others N312,511,048,789. In the 2016 budget the federal government aims to spend 1.8 trillion Naira or 30% of N6.06 trillion 2016 budget on Capital Expenditure. So far the federal government has spent N3.577 trillion out of the full year budget of N6.060 trillion for the 2016 fiscal year. NAN reports that this translates to a 79% performance of the pro-rated budget for the three quarters up to September 30, 2016. In addition to the total of N2,439.9 trillion so far released for Capital, non-debt Recurrent and Service-wide Vote expenditures, a total of N1,137.7 trillion has also been paid out in domestic and foreign debt service expenditures.