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Economy: FG to allocate another N60bn for capital expenditure – Adeosun

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As a way of boosting the economy of the country, the Federal Government on Friday disclosed its intention to allocate N60 billion ($180 million) more spending on capital projects as part of the 2016 budget and in addition to what was released earlier.

According to Reuters, the Minister of Finance, Mrs. Kemi Adeosun disclosed this on Friday, adding that government’s capital spending so far has exceeded N400 billion this year.

The news agency noted that Africa’s largest economy is in the middle of its worst financial crisis for decades as a slump in oil revenues hammers public finances and the naira, adding that the Central Bank governor has said recession is likely.

 

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