The Federal Government said it has released over N820.57bn to the Ministries, Departments and Agencies (MDAs) as capital expenditure captured in the 2018 Budget.
The Minister of Finance, Mrs Zainab Shamsuna Ahmed who stated this during the 2019 budget breakdown, in Abuja, said the amount released represented 43 percent of the MDA capital.
She also said that the capital releases should hit N1.1 trillion before the end of the year.
This was contained in a statement issued by the Minister’s Special Adviser on Media and Communication, Mr Paul Ella Abechi.
She explained that the government had equally made releases that went to the statutory transfer agencies for both their personnel, recurrent as well as capital.
“Let me first of all say that the N820.57 billion that has been released is just for the MDAs’s capital because we have releases also that go to the statutory transfer agencies that are released to them enblock and that amount includes both their personnel, recurrent as well as capital” she said.
“There are also capital releases that are done as part of the capital supplementation. That is to say it’s service wide votes that is not in the 820.57 billion. The 820.57 billion is 43 per cent of MDA capital. We are working to push this to 1.1trillion by the end of December and that would be including the statutory transfers,” she said.
The Minister also explained the reason for the depletion of the Excess Crude Account (ECA) from $2.319 billion as at last month to $.631bn this month, saying that about $1 billion was withdrawn for security purposes.
Similarly, she said, about N50bn was refunded on Wednesday into the account.
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