Power and works tops second quarter capital disbursement
• Gets N117bn
The Federal Government has continued to fund the capital aspect of the 2016 budget to provide immediate and long-term reprieve from the effects of economic recession.
Strategic funding of the key sectors such as power, Works and Housing, Agriculture, and Water, among others, government said is to assuage the effects of recession and boost production.
According to a breakdown of expenditures from July 2016, obtained by The Guardian in Abuja, yesterday, the Ministry of Power, Works and Housing received the highest so far, because of the cross cutting values of roads, electricity and power generation purposes under the ministry.
Power generation and distribution, steady and affordable electricity supply, as well as good road networks are among the targets of the Buhari-led administration, in an effort to jump-start the economy.
The breakdown showed that Power, Works and Housing got N117, 953, 721, 264bn, followed by Defence and Security, which received N51, 187, 529, 684bn.
Others are Transportation, which was allocated N23, 598, 279, 684bn for the purposes of building new rail infrastructure across the country under the rail transportation modernisation programme of the Federal Government.
Agriculture was allocated N23bn, while special intervention programme received N15, 000, 000.000bn.This is followed by Niger Delta with N8, 271,196, 470bn. Water Resources received N25bn, to partner with Agric in building clean water infrastructure and modern irrigation systems, as well as to boost agriculture in selected arable lands in the country.
Also, the Presidential Intervention for the Northeast got N3, 476, 768, 138bn, while Education, as at July got N1, 125, 411, 536bn. The share of capital statutory transfers was N78, 152, 951, 234bn.
Meanwhile, under an MOU signed between the Federal Government and contractors, no fewer than seven major contractors have been mobilised to return to site.
These are RCC, CCECC, Julius Berger, PW, MOTHERCAT, BORINNI and PRONO, among others. They are handling key infrastructure projects at different locations, such as, roads, rail, power, airport and ports, among others.