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Nigeria’s 2016 capital spending reaches record 1 trillion naira – finance minister – Reuters

HomeNewsNigeria’s 2016 capital spending reaches record 1 trillion naira – finance minister – Reuters
27
Mar
Nigeria’s 2016 capital spending reaches record 1 trillion naira – finance minister – Reuters
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    Alex Ikechukwu
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ABUJA, March 26 (Reuters) – Capital released to Nigeria’s ministries and government agencies under the 2016 budget has reached a record 1 trillion naira ($3.3 billion), the finance minister said on Sunday.

Development in Africa’s largest economy has been stunted by a lack of much needed investment to improve its ailing road, rail and electricity network.

“With the current stability in the oil price and the return of normalcy in Niger Delta, I am sure we will do more this year (2017),” said Kemi Adeosun, after stating that 2016 capital spending was the “highest so far in the history of this country”. ($1 = 307.0000 naira) (Reporting by Camillus Eboh; writing by Alexis Akwagyiram; Editing by Elaine Hardcastle)

 


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