Wednesday, June 20, 2018 07:53 AM /Federal Ministry of Finance
Total Capital cost released to Ministries, Departments and Agencies in the 2017 federal budget was One trillion, five hundred and eighty billion, two hundred and seventy million, seven hundred and fifty-five thousand, eighty-four naira, forty-four kobo (N1,580,270,755,084.44).
The N1,580,270,755,084.44 in total capital releases for 2017 is higher than the N1,219,471,747,443.00 total for 2016. #Budget2017
2017 capital releases:
Power, Works & Housing: N523,011,701,723.25 (33.10% of total)
Defence & Security: N197,596,016,072.02 (12.50%)
Agric & Water Resources: N149,485,276,897.37 (9.46%)
Transportation: N126,253,042,607.50 (7.99%)
Health & Education: N98,190,277,285.69 (6.21%)
I'm pleased to note that despite the economic challenges in 2017, the government of Nigeria was able to fully cash-back the capital releases - the highest ever - and in doing so we have fully demonstrated the Muhammdu Buhari Administration's commitment to infrastructure development.
We will continue to work to attract private capital to complement government spending in these key areas of infrastructure and human capital development.