today-is-a-good-day
4.3 C
New York
Thursday, March 28, 2024
HomeNewsAfricaFG to allocate $180 mln more in capital spending - Adeosun

FG to allocate $180 mln more in capital spending – Adeosun

Nigeria’s 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.

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.

Advertisements

 

Advertisements

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisment -

Most Popular

Recent Comments

Onuegbu Chuks Theophilus on Mikel Obi quits Super Eagles
Thomas H. Anderson on Roman Goddess_3
Oladimeji Emmanuel on Obama sends investors to Buhari