The Federal Ministry of Finance has commenced the disbursement of N750 billion capital expenditure to Ministries, Departments and Agencies (MDAs).
Minister of Finance Kemi Adeosun said this while speaking to the Senate Finance Committee in Abuja, on Tuesday, at the 2018 budget defence.
She said; “The accounts of the MDAs are being credited as I speak. If the MDAs check their balances, they will have a different balance in their accounts.”
Adeosun told members of the committee that “ongoing capital projects will be rolled over into 2018. We expect the capital budget when released, many of the ongoing projects by the MDAs to be completed.”
Speaking on the capital release, Adeosun said “what the government is doing is to provide enabling infrastructure that would bring potential into reality.
“Last year we released N1.3 trillion of capital and so far this year we have released N450 billion and this week we will release another N750 billion and this will take the release to N1.2 trillion by the end of the year.”