FG disburses N400bn on capital expenditure since May 2016-Adeosun

 
Minister of Finance, Mrs. Kemi Adeosun said Buhari administration has disbursed N400 billion on various capital expenditure since May 2016 when budget signed into law.

She stated this when briefing journalist in Abuja saying, federal government was pursuing an aggressive spending stimulus plan to reflate the economy and set it on recovery path.

Adeosun expressed federal government intention to improve the nation’s economy said another N60 billion would be approved for various contractors.

She expressed optimism that a sustained spending stimulus would bring rapid economic recovery.
“We are pumping funds into the economy at a very rapid rate,” she said. “We are solving the fundamental problems of the economy, namely under-investment in infrastructure for industries to spring up.

“Government said we need to fix infrastructure to create jobs for the people. With oil now about $50 per barrel, the highest in the last two months, we are working with less money. We try to do much more on fundamental things to grow the economy.”

The minister said the government was re-negotiating some of the failed public-private partnership (PPP) projects to see how private sector money could be mobilized to complement government funding of projects.