News
2021 Capital Budget Implementation Hits N3.40trn
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has said that the implementation of 2021 capital budget has risen to N3.40trillion as at November, 2021.
According to the minister, the increment represents over 74% performance compared to total capital budget of N4.569trillion in 2021 budget.
Ahmed made the disclosure in Abuja, yesterday while speaking at the symbolic cheque presentation of 2021 sovereign Sukuk issue proceeds of N250billion to the implementing ministries, Ministry of Works and Housing, Federal Capital Territory and Ministry of Niger Delta Affairs.
The symbolic cheque presentation was witnessed by the Minister of Works and Housing, Babatunde Fashola; Minister of FCT, Mallam Mohammed Bello; and Minister of Niger Delta Affairs, Senator Godswill Akpabio.
Ahmed stated that of N3.40trillion released, N2.98trillion represents 83% of the provision for MDAs’ capital, N369.9billion for multilateral/bilateral project-tied loans, while N49.52billion represents GOEs capital expenditure.
The minister added that N250billion will be released as part of the capital expenditure in the 2021 budget which has been slated for implementation by the National Assembly in March 2022.
The minister further noted that with the latest N250billion Sukuk bond proceeds, the fourth in series, Sukuk proceeds deployed to funding road projects from 2017 to date, stood at N362.557billion.
Zainab revealed that the Federal Ministry of Works and Housing received N210.5billion, Federal Capital Territory Administration got N29billion, while the Ministry of Niger Delta Affairs received N10.4billion.
“The government will continue to prioritize spending on critical infrastructure in order to sustain the momentum on GDP growth. As you may be aware, the GDP is projected to grow by 4.20% in 2022. This can only be possible through steady increase in spending on critical infrastructure, such as roads,” the minister of finance said.
News
198 UNIBEN Students Bag First Class
News
Bayelsa Education Fund, British Council trains tra 1,000 teachers
News
RSG INAUGURATES ARMED FORCES REMEMBRANCE DAY COMMITTEE
The Rivers State Government has inaugurated a Central Planning Committee to organize the celebration of the 2026 Armed Forces Remembrance Day (AFRD) in the State.
The committee was formally inaugurated by the Secretary to the State Government, Dr. Benibo Anabraba in Port Harcourt, last Thursday.
Dr Anabraba who also serves as Chairman of the Committee
highlighted the State Government’s deep appreciation for the sacrifices of Nigeria’s fallen heroes who laid down their lives for the nation’s peace and unity.
“These heroes have given their lives for the security and peace of our nation and deserve to be celebrated. The Armed Forces Remembrance Day is an opportunity to show our gratitude for their sacrifice,” he said.
Dr. Anabraba further extended recognition to all Security Agencies in the State, emphasizing the importance of the event in appreciating their contributions to national security and sovereignty.
The annual Armed Forces Remembrance Day, observed on January 15 across the country is dedicated to remember Nigeria’s departed soldiers and honouring the nation’s veterans.
-
News5 days agoRSG Woos Investors As PHCCIMA Unveils Port Harcourt Int’l Trade Fair
-
Sports3 days agoBarca Impress On Return To Camp Nou
-
Sports3 days agoSunderland Fall At Fulham
-
Sports3 days agoBundesliga: Oliseh Stars As Bayern Rebound To Thrash Freiburg
-
Niger Delta3 days agoTraditional Ruler Seeks End To Benin Artifacts Unauthorized Promotion
-
Sports3 days agoForest Embarrass Liverpool At Anfield
-
Sports3 days agoOgoni Nation Cup: Victory Against Amee Base Excites Coach
-
Maritime3 days agoNSC Decries Police Interferences With Cargoes At Seaports
