The Federal Government has announced that a total of N1,580,270,755,084.44 capital cost was released to Ministries, Departments and Agencies from the 2017 federal budget.
The Minister of Finance, Kemi Adeosun, made this known in Abuja on Tuesday. The N1,580,270,755,084.44 total capital releases for 2017 is remarkably higher than the N1,219,471,747,443.00 total capital releases for 2016.
In the 2017 capital releases, Power, Works and Housing received the highest allocation of N523,011,701,723.25, which was 33.10 per cent of the total capital releases.
The sector also received the highest releases in the 2016 capital budget, which was a total of N307,411,749,682.00 (25.21 per cent) of the 2016 capital budget.
Defence and Security received the second highest capital releases of N197,596,016,072.02 (12.50 per cent) in 2017, as against N77,532,885,729.00 (6.36 per cent) total releases the sector received in 2016. Agriculture and Water Resources received a total of N149,485,276,897.37 (9.46 per cent) in 2017.
