FG says releases $940m to develop infrastructure

The Federal Government said it has released a total sum of N336bn ($940 million) for the implementation of capital projects contained in this year’s budget.

Minister of Finance, Kemi Adeosun, says the amount was for the first quarter of this year.

Out of this amount, she explained that the Ministry of Power, Works and Housing got the highest allocation of N90bn ($252 million).

Adeosun added that the prioritisation of the release of available funds was made in accordance with the objectives of the Economic Recovery and Growth Plan.

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