Buhari administration sets new record, releases N1 trillion for 2016 capital projects – Official

Minister of Finance, Kemi Adeosun

Money released for capital projects to federal ministries, departments and agencies, MDAs, from the 2016 budget, have surpassed a record N1 trillion, the Minister of Finance, Kemi Adeosun, has disclosed.

Mrs. Adeosun described the achievement as the highest ever budgetary release in Nigeria’s annual funding for capital projects.

“So far, N1trillion has been released on capital allocations. This is the highest so far in the history of this country,” the minister said.

“With the current stability in (crude) oil prices and the return of normalcy in Niger Delta, I am sure we will do more this year (2017),” she said.

The Minister disclosed the figures in an interactive exchange with members of the House of Representatives Tactical Committee on Recession in her office in Abuja.

She said the amount was released for various projects proposed in the 2016 budget, including the commencement of the construction of a dual standard railway line that would link Lagos and Kano, rehabilitation of roads, expanding irrigation facilities to boost agriculture and the upgrading of aviation infrastructure throughout the country.

Details of the releases, the minister explained, include aggregate releases to the MDAs of N870.1billion as at the end of February 2017 and additional releases of N65.4 billion.

Other releases included manual authority to incur expenditure (AIEs) in February 2017 (N11.18 billion) and an additional manual AIEs worth N45.8billion as at March 13, 2017.

Mrs. Adeosun noted that the overall capital releases totalling N992.4 billion had significantly impacted the country’s economy, by creating jobs, stimulating economic activities in communities and upgrading infrastructure, thereby improving the wellbeing of Nigerians.

She said contractors returning to project sites around the country have employed workers, contributed to economic growth and improved the wellbeing of Nigerians in line with the strategic objectives of the present administration.

“We are determined to transform the economy. This is why we are focused on capital expenditure. If we have our rails, road and power, then we will be able to generate jobs and prosperity,” she said.

The release of the capital vote in the budget is in line with government’s drive to devote more resources for the execution of capital projects, especially the upgrade of the country’s infrastructure to provide the enabling environment for investment in the economy.

The Executive Council of the Federation in its meeting on March 22, 2017 had approved the reconstruction of 12 more major highways across the country for N80 billion as part of efforts to boost transportation in the country.


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  • Du Covenant

    The problem I have with Nigeria is, large sums of money have been ear-marked and released for similar purposes in the past only to end up in private pockets this is why we ended up being so underdeveloped and deprived. While it is good news to hear this, I am sure proper mechanisms are in place to hold those responsible and accountable so Kudos to the Government. No ‘white elephant projects’ should be initiated. no wives or girlfriends of senior civil servants be awarded contracts etc and monies will only be released upon reaching agreed milestones and strict adherence to timelines!.

    • Suleiman Alatise

      Sound observation, kudos!

    • Galantman

      Bros. Thanks. Your observations are always honest. But I still believe that this Governmmet seems more sincere in execution of projects in view of the tight funds situation caused by the global fall in crude oil prices. God h please Nigeria

    • Abdulmojeed Nojeemdeen

      Gallant.

      • Otile

        Gallant, but that 233 million grasscutting waste looks like a boonedoggle to many people, hence it has become questionable.

    • Rommel

      The difference now is that contracts will no longer be awarded to companies with no verifiable capabilities,some even obtain their registration from CAC two weeks after being awarded the contracts,this was the practice previously so with elimination of such unhealthy practices,expect improvements

      • Höly Wähala

        SFG Babachair Lawal’s ICT company and others got awarded grasscutting contract worth millions of naira without verification of their registration with the CAC, haven’t you read that Lawal’s 20 ghost-companies got contracts from the office of the SGF that’s why he’s been balking to appear before the Senate to explain his role in the scam? Keep deceiving yourselves, we’re almost in the end of 1st quater of 2017 and a moronic minister is telling you pfools about capital projects from 2016 Budget and you’re all rejoicing like the economics illiterates you all are on this thread so far… SMH!

        • B.Messi

          Bulls eye!
          Praise when it’s deserving but criticize when necessary.
          That’s what distinguishes you from other e-rats.
          You belong to NO ONE jare!
          Fire on!

        • Tunde Kollington

          The way you refer to people you don’t know, some of whom may be as old or even older than your parents as fools and illiterates shows your lack of proper upbringing. You should learn to put forward your views and contributions without the use of such language.

          • Höly Wähala

            Yoro and upbringing are like fish and trees… Get Lost! MONKEY!

          • Tunde Kollington

            You have just confirmed my observation – no proper upbringing. I pity your parents for what they must have suffered dealing with you as their offspring. You are not worth the exchange and this is the last time I will communicate with you on this platform. Bye imbecile.

          • Höly Wähala

            Middle-Finger! Again… Get Lost!!

      • Du Covenant

        I truly hope this government succeeds in making a difference in our lives but, there are some really bad Nigerians out there and very well entrenched in the good old ways who do not want anything to change. Lets keep our fingers crossed and hope for the best.

  • MUHAMMAD AHMAD

    Excellent! We hope to see more positive records insha Allah

  • Shane

    Release our arrears that’s the way to give us purchasing power to pay our rent, school fees and plan our lives

  • Tunde Kollington

    Good news. Heard NDDC contractors who abandoned their jobs have been given ultimatum to return to site. Ogoni restoration is ongoing, negotiations are on and peace is gradually returning to the Niger Delta. Anticorruption war is on course. While some small minds are busy formeting embers of disunity, the country is moving forward. Kudos to this administration. Continue with the good work.

  • Sam

    If this does not reach the common man in terms of job opportunities, it is just going to be another historical financial misappropriation.

    This release should also begin to lift the value of Naira, since adequate cashflow reduces pressure on local currency

    • El Patron

      Have you been asleep the last two weeks?

  • sammyctu ode

    PMB’s government is one that is committed to eradicate poverty, corruption and dedicating their commitment to raise the standard of living for all Nigerians. The only president and vice that will NEVER steal/loot Nigerian resources. MOB and VP landslide for both of you come 2019.

    • Peter_Edo

      you already know it…

  • Ifeanyi

    Release of funds most of which are borrowed is only a means to an end. The end goal is growth. The economy is still in recession but the government has now admitted what many of us know -that it has spent more money than any government in the history of Nigeria. Tell Nigerians on the street that you have created jobs for them and improved their lives.

    • Lifetime

      When you are in recession what do you do? You spend your way out of it – infrastructure.

  • Abdulmojeed Nojeemdeen

    Wailers won’t be happy,they are disappointed already. The sonofaguns will soon rush down doubting the analysis of the very brilliant woman,that is not a Harvard product doing better than the Harvard product in theory and in practical. A different direction from a minister of finance who specialises on sabotaging,and overseeing massive looting of the Nigerian treasury,. A minister who claimed to have built the largest economy in Africa on pack of paper the came crashing immediately after her last exit step. A minister who supervised the destruction of an economy and yet claimed to have performed very well whilst still borrowing money to pay salary. A minister who after two years of her so called excellent performance could not return to her country. Posterity is a just judge I think.

  • Otile

    What did Buba Marwa do with the 1 billion his relative Buhari released to him? Is the fund counted in this one trillion? Is the 233 billion grass cutting bill counted too? Unfortunately that one trillion or more Buhari released has not yet trickled down to the poor man in Nigeria. It is nothing to brag about.

    • Abdulmojeed Nojeemdeen

      Between and when? Government is not akamu and akara. Things move slowly and gradually. It is not like rain the you feel immediately it falls. It is like a small child growing under his parents without you noting it until you want change his cloth or shoes. 223 billion, for cutting grass? Mr otile,abeg tune down,it was 223milion. By the way why are you always driving off the road,what has Marwa got to do with the issue being discussed? Anyway just calling your for your observation. I am not interested in any type of insult which you may be throwing around.

      • Otile

        I have not insulted anyone in this comment, but I will be quick to respond in kind if attacked. When I say 233 billions I am not far from the truth because with the way Buhari inflation is going before long that money be equal to 223 billion devalued Nigerian Naira. Don’t make fun of akamu and akara because that’s what millions of impoverished Nigerians are surviving on amidst the 1 trillion Buhari released in air, should one say. Nigeria is not yet out of the woods economically speaking.

        • Abdulmojeed Nojeemdeen

          No doubt,but on the move. The “akara and akamu” analogy is just in terms of simplicity. Your intellectual response should make you know more about government policies on how it works. The only policies of government that be felt immediately in the Nigeria of today is in a very serious security situation,say a state of emergency. But in terms of economics policy,you know our bureaucracy. Let’s just be optimistic,but I disagree that 223million will be equal to 223billion at whatever conversion.

          • Otile

            Government policies that work do not take eternity to work. You are talking as if the present government is about to reinvent the wheel. Just tell me, after almost 2 years in office what has this government achieved?

          • john

            There is no amount of preaching or demonstration that will make you see the achievements. Your hate based blindness is incurable.

          • Otile

            You know very well that I do not hate anybody, what I hate is evil in people. I don’t like those who don’t like me. Generally people don’t like their oppressors. That’s the it is, John.

          • Kay Soyemi (Esq.)

            Wrong, Mr. Otile.

            The Obama stimulus took years to fully percolate down and be felt on the streets.

          • Otile

            It is on record that before Obama came in US economy was in shambles, with staggering debt, hype-inflation, banks, real-estate almost looted silly by unscrupulous men/women, and businesses closing their doors. As soon as Obama came in with sound economic policies the hemorrhage stopped, with his stimulus package the economy began to turn around progressively. US recovery was quick, Americans did not have to go to_hell before going to heaven. By the end of his administration prosperity broke out, the poor are benefiting from healthcare, unemployment as you know it has almost became a thing of the past, the dispossessed once more have the opportunity to enjoy good home ownership. Today Americans have it so good that nobody remembers the Bush recession and old bad days. What you are witnessing today is good government policy that was executed with deliberate speed and dexterity…

          • Kay Soyemi (Esq.)

            Only thing is you were being economical with the truth on how quickly things turned around.

            Interestingly, I believe if you are honest enough with yourself, you’d admit the PMB govt is more or less floating along on the same sequence for recovery.

            I am also honest enough to know that this government made early policy mistakes that were not helped by saboteurs like the NDA, but by and large, we are on the right track.

        • Abdulmojeed Nojeemdeen

          You are right,boondoggle,yes. That has been the tradition of our government officials,another example is that if the ekiti state governor, who is constructing a fly over where there is no problem of traffic,and his people are so Hungary that all they can get from him is an intervention of a one kg of rice and two hundred Naira,like in a refugee camp. Yet shall we not acknowledged the few ones that are spending with prudence and accountability? Let’s be watchful and carry on with the constructive critism and open acknowledgements when there is any need.

          • Otile

            Please show me those few projects where Buhari administration ‘are spending with prudence’. A are you talking about importing grass from Brazil, are you talking about extorting money from military officers to build golf course in Abuja. Please, specify.

          • Abdulmojeed Nojeemdeen

            If you have issues with buhari personally, that is a different football game entirely. If you remember, when fashola came in as the minister for works,hosing and power, he said no new project will be embarked upon,until the ongoing and the abandoned are reviewed,and the money owed contractors are paid. Same to the other ministries. Asking me to name a he achievement of this government is assuming i am in the government or the mouthpiece of the government. I am not. But your blanket critism of buhari is what k Wang you to look at. At least I can see that they have been able to take all our territories from the dreaded bokoharam terrorists. Our power supply is now getting better. We can now see road rehabilitations ongoing here and there. Monies are being seized from those who have stolen them. We can see few states now trying to improve on agriculture. These are the few I can say concerning their doings.

        • Abdulmojeed Nojeemdeen

          Should we go back debating that again? One thing is certain is standing out today,stealing with impunity is no longer popular like before. Nigeria are now more informed than before. We are now beginning to know the potency of our thumb. The government has now began to explain what and why certain things are done. Stealing is now beginning to look like corruption,even though it is yet to be. But in reality, to a non magician who is really ready to do something,do you know how many years it will take to construct a sky scraped,say a 5o storey building,around four years. That is just a structure within a country. To be able to right the wrongs of many years, will take time with absolute sincerity. I guess,it will do us a lot of good to criticize with sincerity. Like the popular saying ” Rome was not built in a day”. This is democracy, the weakest form of government, that is not intended to build and develop a country, but to weaken it. Blame democracy for most of our backwardness now. It we have had a really sincere and patriotic leader like to the late mummah Gaddafi, late fidel castrol,late chairman mao of China,who built their country without this Western hypocrisy called democracy,we wont be here today. Can you talk of democracy in China,Russia,even in the UK. I am sorry for digressing. The issue is,let’s expect no magic,because that is how democracy works,very slow and accommodate Corruption.

          • Otile

            I do not buy your argument that democracy brings backwardness to mankind. You have cited your favorite totalitarian states as your model for civilization, but I ask you, have you lived in Cuba, North Korea or communist Russia? Amen amen I say onto you give me my United States of America, Canada and Great Britain any day but take back your Uzbekistan, Ukraine, and Socialist People’s Republic of Dagagstan. Nigeria is not backward because of democracy but because of bad leadership. Believe it or not Buhari is not a good leader and Nigeria is paying a terrible price for his horrible leadership.

          • blackdove

            You will never learn. Always writing trash out of hatred.

        • rasheed ogunbunmi

          How do you the 1 trillion released so far have a greater impacts that the masses will felt,if the previous government have been doing so for years you and other haters of this government will have other things to concentrate your energy on or better still pdp will not be voted out of power.

        • john

          You’re so uninformed, bitter, and blinded by hatred that you cannot even reason out the truth and facts even if it’s dangled in front of you.

          • Otile

            That is your opinion, but well informed open-minded people love me. In short, Otile emendi causa.

    • The prophet

      Bros just to let you know that there was no grass cutt

      • Otile

        Then let Babachir pay us back our money.

      • Otile

        Are you an insider, what do you know about this project and when did you know it? Do you have more information than the Senate?

    • john

      So they didn’t teach maths in school. Is billion 9 figures..

      • Otile

        For your information after the 1st and 2nd world wars Germans were counting their marks in billions, if Buharis continues to rule Nigeria the same fate will bedevil one Nigeria. John, anything is possible in one Nigeria.

        • john

          Fast forward 2days later ……$1=N360…..I hope you have heard..Your wishes shall never come true.

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  • Rommel

    Let’s hope the aim is achieved

  • True Cross Riverian

    Only evil Igbos and a small section of south south dislike Buhari because they thrive( especially Igbos) in impunity. They like to take advantage of weak systems. However, for the sake of peace and representative democracy, i suggest PMB does a second term and subsequently power is zoned to the South East. In the midst of their political naivety, they are very enterprising and Nigeria can benefit from their entrepreneurial skills

  • Okokondem

    Is it not an exercise in futility increasing the budget and subsequently the amounts appropriated to Ministries, Departments and Agencies, MDAs, without ensuring adequate mechanism is in place to prevent misappropriation in the MDAs? The problem, I think, is not the size of the budget but whether the funds will be spent as intended.

    As for @The True Riverian,

    You will for the rest of your life have your head deeply buried uy the hausa/fulani keister.

  • Rominiyis

    Monitor Implemention Please. If not it will amount to nothing. Political contractors will get the contracts do no job at all or do partial or substandard job