FG Released N1.58 Trillion For Capital Expenditure In 2017
So, if you are wondering how the 2017 budget implementation went down, here is the breakdown as far as capital expenditure is concerned.
Out of the 7.298 trillion-naira 2017 budget estimates, the government released a total of 1.58 trillion as capital expenditure to Ministries, Departments and Agencies, MDAs.
The Minister of Finance, Kemi Adeosun disclosed this in a statement issued by Director, Information in the ministry, Hassan Dodo on Tuesday in Abuja.
Adeosun said the 1.58 trillion-naira total capital releases for 2017 were higher than the 1.219 trillion-naira total capital releases for 2016.
The statement revealed that in the 2017 capital releases, the Power, Works and Housing sectors received the highest allocation of 523 billion naira which was 33.10% of the total capital releases.
“The sector received the highest releases in the 2016 capital budget, which was a total of 307.4 billion naira, 25.21% of the 2016 capital budget.
“Defence and security sector received the second highest capital releases of 197.5 billion naira, 12.50% in 2017, as against 77.5 billion naira or 6.36% total releases the sector received in 2016,” the statement said.
More so, Agriculture and Water Resources sector received 149.4 billion naira, 9.46%, in 2017, which was higher than the 143.1 billion naira, 11.74% of capital releases the sector received in 2016.
Meanwhile, the transportation sector received 126.2 billion naira, 7.99% of the 2017 capital releases which was lower than the 171.9 billion naira, 14.10% it received in 2016.
Health and Education sectors together received 98.1 billion naira, 6.21%, for 2017 as against 56.27 billion naira, 4.61% the sectors received in 2016.
Other sectors combined received a total of 485.7 billion naira, which was 30.74% of the 2017 capital releases, which was higher than the total of 463.2 billion naira or 37.99% that was disbursed to these sectors in 2016.
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