FG to release N350bn for capital projects Friday

The Federal Government said on Thursday that it would commence the release of the sum of N350bn set aside for capital projects contained in the 2016 budget on Friday.

The Minister for Budget and National Planning, Senator Udo Udoma disclosed this during the public presentation of the 2016 budget which was signed last Friday by President Muhammadu Buhari.

He said the fund to be released by the Ministry of Finance would be made available to finance projects that are ready for execution.

The minister said, “We are ready to kick-start the implementation of the budget and by tomorrow (Friday), some releases will be made for capital projects that are ready for execution.”