17 August 2016, Sweetcrude, Abuja – The Federal Government is set to release N100 billion to fund capital projects in power, housing, transport, agriculture and defence, according to Vice President Yemi Osinbajo.
Osinbajo stated this in Lagos, saying the fund is part of the 2016 N6.06 trillion budget and that the country will cap capital spending at a minimum of 30 percent.
“We have pledged to keep capital spending at a minimum of 30 percent of the N6.06 trillion budget,” the vice president said.
He also said many of the 36 states in the country were still struggles to pay the salaries of civil servants despite assistance from the Federal Government.
Commenting on the flexible exchange rate policy introduced by the Central Bank of Nigeria, CBN, in June, the he said it has eased pressure on foreign reserves,.