According to online reports from the punch news papers; the Federal Government has said that it has so far released N1tn to its Ministries, Department and Agencies for the implementation of the capital component of the 2016 budget. The Minister of Finance, Mrs. Kemi Adeosun, who disclosed the figure during a meeting with members of the House of Representatives’ Tactical Committee on Recession in her office in Abuja, stated that the amount was the highest release to be made in the history of the country. A statement from the Director of Information in the Ministry of Finance, Mr. Salisu Dambatta, on Sunday, quoted Adeosun to have said that the release of the funds would enable the government to achieve its objective of creating jobs and stimulating economic activities. The minister said the amount was released for various projects, including the commencement of the construction of a dual standard railway line that would link Lagos and Kano, rehabilitation of roads, expansion of irrigation facilities to boost agriculture and the upgrading of aviation infrastructure throughout the country.
This release so is quite encouraging for a government that want to build infrastructure for the country, but question is did they channel the money to the areas mentioned above, that is road rehabilitation, standard railway line, expansion of irrigation facilities boost agriculture and the upgrading of aviation infrastructures etc. This amount is a huge one from the 2016 budget to for the development of infrastructures, the major issue is that of corruption that has eaten so deep into these agencies, if the funds are not diverted the plan for such release would be very good even as part of recovery from the current recession that has plague this nation.
It is pertinent to state that the areas mentioned for the release in the budget are critical areas of the economy. but as it stand today, not much has been done in this areas we need to see more, so as to experience the flow of activities which eventually boost the GDP of the nation. according to Minster of Finance, this budget release for this ministries and agencies would stimulates the economy and create jobs for the jobless youths. we employ the better utilization of the money release to enhance better implementation in the area of interest.
We would like the ministry of finance to set up a monitoring team to ensure a proper use of the budget, so that it can achieve the goal of the government, before the release of the 2017 budget.
featured image is from google image.