The Minister for Finance, Mrs. Kemi Adeosun, has said that at the end of September, N3.9tn out of the N6.1tn budgeted for the year has been released.
The Director Special Projects in the ministry, who represented the minister, Mr. Mohammed Dikwa, a stakeholders’ forum on reducing the cost of governance in Abuja on Tuesday said only 18 percent of the releases was for capital expenses against 82 percent for recurrent expenditure.
In a paper, “Public Sector Financial Management Reforms as a Strategy for Cutting Cost of Governance in Nigeria”, Adeosun said that the releases to the productive sectors of the economy remained the highest in recent times.