The Federal government has released N285 billion for capital projects from the year 2020 budget. The Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed this today in Abuja.
The Minister stated this shortly after her meeting with President Buhari at the state House.
Mrs. Ahmed said that the said money was released on Tuesday just before the Federal Executive Council (FEC) meeting.
Speaking, she said Ministries like Transportation, Ministry of Works and Housing and the Ministry of Niger Delta Affairs who are handling major projects and critical infrastructure were amongst those who get paid.
She further explained that another trench of $220 million was released as a counterpart funding for railway projects to the Ministry of Transportation.
Meanwhile, the budget of N10.59trillion is now on a crossroads over challenges amid the drop in crude oil prices in the world market owing to the outbreak of Coronavirus.
