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Details Of Money Released For 2016 Budget By FG

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PostBenson on Sat 12 Nov 2016, 8:10 am

THE Federal Government has released the sectoral performance details of capital allocations in the 2016 Appropriation Act for the different ministries, departments and agencies (MDAs) as at the end of October.

The Minister of Budget and National Planning, Udoma Udoma, said on Friday last week that government had spent about N3.577 trillion, or 58.7 per cent of the N6.06 trillion 2016 budget.

The amount included a total of N2.44 trillion for capital, non-debt recurrent and service-wide vote expenditures, in addition to about N1.14 trillion, or 46.7 per cent paid out to service domestic and foreign debts.

The total expenditure also included about N44billion transferred to the Sinking Fund to retire maturing obligations on bonds issued to contractors handling various projects across the country.

He said all the releases had been cash-backed. In terms of performance, the minister said this translated to 79 per cent, in terms of the pro-rated budget allocation for the three quarters up to September 30, 2016.

Mr. Udoma described a total of N753.6 billion already released for capital expenditure in 2016 out of a total allocation of N1.8 trillion allocation approved for capital expenditure as the highest in the nation’s recent history, even in the era of low oil prices.

Details of the capital releases from the Federal Ministry of Finance headquarters showed the Ministry of Power with the highest allocation of N209.25 billion, followed by defence (N69.5 billion), and transport (N30.54 billion).

The Ministry of Agriculture has so far received N29.58 billion; water resources (N25.2 billion); interior (N21.2 billion); health (N18.47 billion); education (N16.74 billion) and Niger Delta (N8.16 billion).

The other ministries included science and technology (N6.68 billion), mines and steel development (N3.36 billion), petroleum resources (N2.414 billion) and other agencies (N312.5 billion).

If there is no struggle, there is no progress. Those who profess to favour freedom and yet deprecate agitation, are men who want crops without ploughing up the ground, they want rain without thunder and lightning. They want the ocen without the awful roar of its many waters. This struggle may be a moral one, or it may be a physical one, and it may be both moral and physical, but it must be a struggle. - Frederick Douglass

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PostGodfather on Sat 12 Nov 2016, 9:35 am

Rubbish paper propaganda

You are like a flower, the stem resembles your strength, and the petals resemble how delicate you are. You are beautiful no matter what they say, words cant bring you down... And I know that I'm prettier in a broken mirror

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