FG releases N5.I tr from 2016 budget

FG releases N5.I tr from 2016 budget

 Federal government says it has released ‎up to N5.1 trillion for 2016 budget out of N6.06 trillion passed by National Assembly.

This was stated in a meeting organized by Joint National Assembly Committee on Appropriation for stakeholders in the finance sector.

Director General of Budget Office of the Federation, Ben Akabueze while addressing the joint committee on appropriation gave a breakdown of 2016 budget performance.

Speaking before the committee, Accountant General of the Federation, Hammed Idris said that N870 billion was released for capital projects which constitutes 55 percent while N2.3 trillion was released for personal cost.

Minister of finance, Kemi Adeosun gave an overview of 2016 budget performance and talked on $1 billion eurobond.

Chairman of the Joint appropriation Committee Senator Danjuma Goje after querying appropriation of some money borrowed to personnel cost said that Nigerians need to know how their money is utilized.

Our correspondent  reports that the Joint Committee invited Central Bank of Nigeria (CBN), Accountant General of the Federation office, Ministry of Budget and National Planning, ministry of Finance, Budget office and Debt Management Office.

Reports by Onuora Aninwobodo

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