N1.01trn released for 2013 budget implementation - FG

THE Federal Government has, so far, released a sum of N1.01 trillion for implementation of the 2013 Appropriation Act, a statement from the Federal Ministry of Finance has indicated.

According to the release signed by the Special Adviser to the Coordinating Minister of the Economy, Paul Nwabuikwu, the Federal Ministry of Finance said it also released the sum of N160 billion, in continuation of execution of capital projects across the country for the fourth quarter of the year.

Previous quarterly releases for 2013 included N400 billion for the first quarter; N200 billion for the second quarter and N250 billion  for the third quarter.

Further breakdown given by the statement showed that N598.4 billion of the capital budget or 72.3 per cent had been utilised as of the end of the third quarter of 2013.

A balance of N229.6 billion unspent by various MDAs, the ministry noted, remained at the Central Bank of Nigeria (CBN).

The ministry clarified that the  N160 billion released for the fourth quarter would bring total balance spent to N450 billion.

- Tribune

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