Government is to allocate 60 billion naira ($180 million) more spending on capital projects as part of the 2016 budget and in addition to earlier releases, Finance Minister Kemi Adeosun said on Friday, as it tries to boost the economy.
Nigeria to allocate $180M more in capital spending - finance minister
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.
Nigeria to allocate $180 mln more in capital spending -finance minister
Recommended articles
![FIRS Chairman, Mr Muhammad Nami. [Twitter/@MMNami_]](data:image/svg+xml;charset=utf8,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20width%3D'100'%20height%3D'100'%20data-ring-placeholder%3D'1'%3E%3C%2Fsvg%3E "FIRS Chairman, Mr Muhammad Nami. [Twitter/@MMNami_]")
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. The central bank governor has said recession is likely.
Government capital spending so far has exceeded 400 billion naira this year, Adeosun said, despite the record budget being held up for months by wrangling between President Muhammadu Buhari and parliament.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Alex Otti terminates all revenue enforcement appointments
Senate approves Tinubu's request to appoint 20 special advisers
LAWMA demolishes shanties, clears street traders along Lekki-Epe Expressway
Peter Obi tenders more evidence in Presidential Election Tribunal
Plateau councillors fault suspension by Gov Mutfwang, describe move as illegal
Former US vice president Pence files paperwork formalising bid for presidency
APC governors endorse Abbas, Kalu for Speaker and Deputy Speaker
Bandit attacks leave 37 dead in Sokoto, Gov Aliyu vows action
FG, Labour to meet June 19 on subsidy implementation framework
ADVERTISEMENT