Accessing Capital Funds Now Based On Performance, FG Says

Quarterly releases of funds for capital projects will no longer be automatic but subject to meeting of key performance indicators by Ministries, Parastatals and Agencies (MDA), Minister of Budget and National Planning, Senator Udoma Udo Udoma, has said. 

The minister disclosed this yesterday in an opening address at the 2016 Annual Public Lecture of the Nigerian Economic Society (NES) held in Abuja. 

The government is set to make some capital releases for the coming quarter as the second quarter of the year draws to a close. N1.79 trillion or 29 per cent of the N6.06tr 2016 budget has been earmarked for capital expenses.