• FG announces inability to fund capital projects
• 60 per cent of capital votes to be rolled over

The Federal government has announced that it can no longer fund the capital projects provided for in the 2017 budget. This came to light yesterday when the Senate joint committee on Finance and Appropriation subjected the ministers in charge of Finance as well as Budget and National Planning, Kemi Adeosun and Udoma Udo Udoma, to intense grilling over what it considered as very poor implementation of the budget.

The Senate described as unacceptable the release of less than 15 per cent of the N2.240 trillion voted for capital projects in the N7.44 trillion 2017 budget just as many Senators pointed out that such development would be very inimical to the fate of the All Progressives Congress (APC) in the next election.

Udoma linked the poor implementation of the budget to the delay by the Senate in approving the Federal Government’s plan to borrow some money to fund the 2017 budget.


Adeosun revealed that the Federal Government has so far released N340 billion to fund capital projects for which N2.240 trillion was budgeted.

“At the end of this week we would have released about N440.9 billion on capital budget for 2017,” she added. Adeosun also informed that cumulative releases on current expenditure is N1.5 trillion

The minister said that N128.8 billion has been released for statutory transfers, while funds released for pensions stood at N37.8 billion.

For overheads, N92.4 billion has been released while Service Wide votes has so far gulped N223.6 billion. The budget passed by the National Assembly and signed by the then acting president in June showed that Statutory Transfers got N434 billion, while N1.8 trillion is for Debt Servicing, N177.5 billion for Sinking Fund for Maturity Bonds and N2.99 trillion for Recurrent Non-Debt Expenditure.

The minister disclosed that 60 per cent of the budget for capital would be rolled over to the 2018 budget.

This disclosure attracted further criticisms by lawmakers who queried her on how practicable it would be to implement projects budgeted for in 2017 and the ones in 2018.

Asked to explain why many workers in some federal agencies were not being paid their salaries, Adeosun said it was due to the illegal recruitment in most of those agencies.

Director General in the Budget Office, Ben Akabueze, informed the lawmakers that of the N2.05 trillion earmarked as revenue to fund 2017 budget, only N1.2 trillion has been realised so far.



http://guardian.ng/news/senate-grills-adeosun-udoma-over-breach-in-budget-implementation/?F

Shameless government

Remember in 1984 Buhari is on record not to have initiated a single capital project yet we foolishly elected him to lead a country in dire need of capital projects ...This govt has borrowed and squandered 15 trillion Naira with nothing to show for it , zero capital projects and they are still in deficit in recurrent expenditure....The last time Buhari's bad leadership plagued Nigerians it took Nigeria 30 years + to even try to find a direction again and I bet you it might take far longer after he leaves this time...

stanech:




Asked to explain why many workers in some federal agencies were not being paid their salaries, Adeosun said it was due to the illegal recruitment in most of those agencies.





http://guardian.ng/news/senate-grills-adeosun-udoma-over-breach-in-budget-implementation/?F

Wahala! What about the much celebrated discovery of ghost workers in the FG agencies? OK so they discovered them, handed them over to Efcc, and then went behind to recruit their own illegal workers! APC your sins shall find you!

SalamRushdie:
Remember in 1984 Buhari is on record not to have initiated a single capital project yet we foolishly elected him to lead a country in dire need of capital projects ...This govt has borrowed and squandered 15 trillion Naira with nothing to show for it , zero capital projects and they are still in deficit in recurrent expenditure....The last time Buhari's bad leadership plagued Nigerians it took Nigeria 30 years + to even try to find a direction again and I bet you it might take far longer after he leaves this time...

A people deserve the kind of leaders they get. You can put a crown on a clown and expect to have a king.

SalamRushdie:
Remember in 1984 Buhari is on record not to have initiated a single capital project yet we foolishly elected him to lead a country in dire need of capital projects ...This govt has borrowed and squandered 15 trillion Naira with nothing to show for it , zero capital projects and they are still in deficit in recurrent expenditure....The last time Buhari's bad leadership plagued Nigerians it took Nigeria 30 years + to even try to find a direction again and I bet you it might take far longer after he leaves this time...

On point, Babangida inherited his mess

mehn! budgeted #2.2 trillion and #1.2trillion is going to be rolled over. Sound more like #1.2 trillion will be pocketed to unseen accounts!

stanech:
• FG announces inability to fund capital projects
• 60 per cent of capital votes to be rolled over

The Federal government has announced that it can no longer fund the capital projects provided for in the 2017 budget. This came to light yesterday when the Senate joint committee on Finance and Appropriation subjected the ministers in charge of Finance as well as Budget and National Planning, Kemi Adeosun and Udoma Udo Udoma, to intense grilling over what it considered as very poor implementation of the budget.

The Senate described as unacceptable the release of less than 15 per cent of the N2.240 trillion voted for capital projects in the N7.44 trillion 2017 budget just as many Senators pointed out that such development would be very inimical to the fate of the All Progressives Congress (APC) in the next election.

Udoma linked the poor implementation of the budget to the delay by the Senate in approving the Federal Government’s plan to borrow some money to fund the 2017 budget.


Adeosun revealed that the Federal Government has so far released N340 billion to fund capital projects for which N2.240 trillion was budgeted.

“At the end of this week we would have released about N440.9 billion on capital budget for 2017,” she added. Adeosun also informed that cumulative releases on current expenditure is N1.5 trillion

The minister said that N128.8 billion has been released for statutory transfers, while funds released for pensions stood at N37.8 billion.

For overheads, N92.4 billion has been released while Service Wide votes has so far gulped N223.6 billion. The budget passed by the National Assembly and signed by the then acting president in June showed that Statutory Transfers got N434 billion, while N1.8 trillion is for Debt Servicing, N177.5 billion for Sinking Fund for Maturity Bonds and N2.99 trillion for Recurrent Non-Debt Expenditure.

The minister disclosed that 60 per cent of the budget for capital would be rolled over to the 2018 budget.

This disclosure attracted further criticisms by lawmakers who queried her on how practicable it would be to implement projects budgeted for in 2017 and the ones in 2018.

Asked to explain why many workers in some federal agencies were not being paid their salaries, Adeosun said it was due to the illegal recruitment in most of those agencies.

Director General in the Budget Office, Ben Akabueze, informed the lawmakers that of the N2.05 trillion earmarked as revenue to fund 2017 budget, only N1.2 trillion has been realised so far.



http://guardian.ng/news/senate-grills-adeosun-udoma-over-breach-in-budget-implementation/?F

bookmark before adeosjn use slang deny herself again

What about all the monies that discovered from whistle blowing? LMAO...

Ewuawusas

GEJ administration not to be blamed for the first time

Do we have another Osun state at hand.

Dear nijeyians. i Mohammadu buharie, hereby officially declared Nijeyia broke. my kitchen cabinet and appointees have looted all federal resource and budget while i was away in yondon.

Ndi ara people useless thieves, I thought they lied that the economy they destroyed is looking up

so while they chase PEJ and other pdp stalwarts



the business of delivering good governance has died on the alter of silencing ipob and the SS

The minister disclosed that 60 per cent of the budget for capital would be rolled over to the 2018 budget

After all the hullabaloo during preparation and approval of budget, TSA, Loot recoveries so it all end up this way

Chai...

bad news everywhere Wetin?

This government is the definition of incompetence, in a reasonable country, the will be a vote of no confidence from Senate. 60% ?!

What a country

Where are all those cursing IPOB nah?

Is IPOB running the Nigger Area?

Is IPOB running to London on medical leave paid for by the poor tax payers in the Nigger Area along with the parking of presidential fleet?

IS IPOB sending in soldiers, yes soilders, to a house in the village to kill and shoot?

See your zoo, and this is not the first or last insult to Black people that will come from it/there.

The Nigger Area was designed to be exactly what it has become, a British corporation of the Nigger Area protected by armed thugs called Nigerian Military that will siphon all the wealth and resources to the developed world, while giving small kick backs to Fulani leaders and their Yoruba junior partners.

Where is omenka?

This is no surprise when NNPC alone awarded 26b dollars contracts

Udoma linked the poor implementation of the budget to the delay by the Senate in approving the Federal Government’s plan to borrow some money to fund the 2017 budget.
Adeosun revealed that the Federal Government has so far released N340 billion to fund capital projects for which N2.240 trillion was budgeted.
“At the end of this week we would have released about N440.9 billion on capital budget for 2017,” she added. Adeosun also informed that cumulative releases on current expenditure is N1.5 trillion

the fg had a plan go borrow #1.8 trillion to #2.2 trillion to supplement the budget.I hope I am right but udoma is implying the govt has not borrowed

hmmm!
these guys are doing ohuhu and ojuju accounting for PMB.roll over from last to this year june due to senate passing budget in June and now roll over to 2018 June.
there will be a change of budget year from June to June so as not to embarrass govt

Hahaha hahaha, I no fit laugh oh, I thought they recoup some money from treasury looters. Or has the money grown some wings. This government self. The hardest job to do on earth is to defend this government.

my God this government has failed..

Feckless incompetence of this government

Gift10:
my God this government has failed..

More like the "nation". Time for it to be dissolved

I spit on this useless country and the few that still have hope on it.