{"id":37115,"date":"2019-12-19T11:47:26","date_gmt":"2019-12-19T10:47:26","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=37115"},"modified":"2019-12-19T11:47:26","modified_gmt":"2019-12-19T10:47:26","slug":"n1-2trn-capital-expenditure-released-in-2019-%e2%80%95-fg","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/n1-2trn-capital-expenditure-released-in-2019-%e2%80%95-fg\/","title":{"rendered":"N1.2trn Capital Expenditure Released In 2019 \u2015 FG"},"content":{"rendered":"

The federal government has so far released the sum of N1.2 trillion for capital expenditure in the 2019 budget, amounting to 50 per cent of the provision.<\/p>\n

Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, disclosed this while briefing State House correspondents at the end of the weekly Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari at the presidential villa, Abuja on Wednesday.<\/p>\n

She said: \u201cSo far as at last week, we have released up to N1. 2 trillion in capital expenditure and that is a 50 per cent performance of the capital for the whole year 2019.\u201d<\/p>\n

It was part of her ministry\u2019s assessment report she present to the council.<\/p>\n

She said: \u201cThe Ministry of Finance, Budget and National Planning reported on its one hundred days performance to Federal Executive Council today. The Ministry of Finance has eleven major mandate areas.<\/p>\n

\u201cFirst of in terms of revenue performance, the revenue performance prorated to the third quarter of 2019 is N4. 25 trillion and that represents a performance of 81 per cent. That is to third-quarter so its nine months prorated, not full year.<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

\u201cThe GDP growth that we planned for 2019 was 3.5 per cent and the third quarter GDP performance was reported as 2.28 per cent.<\/p>\n

\u201cOn expenditure, we have been able to release all that is required for personnel. So, personnel expenditure is on course, debt service is also on course.<\/p>\n

\u201cOn the overhead, we have been able to pay eight months overhead for general MDA\u2019s and 11 months overhead for some MDA\u2019s we classify as critical. This includes the security services, the Federal Government Unity Colleges as well as NYSC and Prison rations.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

The federal government has so far released the sum of N1.2 trillion for capital expenditure in the 2019 budget, amounting to 50 per cent of the provision.<\/p>\n","protected":false},"author":6,"featured_media":34588,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23],"tags":[2044],"coauthors":[2391],"class_list":["post-37115","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","tag-capital-expenditure"],"yoast_head":"\nN1.2trn Capital Expenditure Released In 2019 \u2015 FG - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/n1-2trn-capital-expenditure-released-in-2019-\u2015-fg\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"N1.2trn Capital Expenditure Released In 2019 \u2015 FG - 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