After several months of touting its social intervention programme, the federal government finally announced wednesday that it had released N25 billion, translating to five per cent of the N500 billion earmarked for the programme in the 2016 budget.
The Minister of State for Budget and National Planning, Zainab Ahmed, disclosed this in Abuja while briefing State House correspondents at the end of the Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari.
She also revealed that an additional N40 billion was in the process of being released.
The minister further stated that so far government had achieved 50 per cent implementation of the 2016 capital budget.
She said: “We have approval from the steering committee in the sum of N150 billion.
“So far, N25 billion has been released into the account and there is another N40 billion that is in the process of being released.”
The minister explained that government would roll out the first four programmes and they would continue into 2017.
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