Minister of
Finance,Ngozi Okonjo-Iweala has blamed the seeming inability of
ministries to access funds for capital projects on spill over of the previous
year’s budget.
Okonjo-Iweala
however stated that the government had been releasing fund to the Ministries,
Departments and Agencies to ensure the full implementation of the capital
project in 2012.
She disclosed that
the government had so far released a total of N710.4 billion of which
N553.2 billion accounted for cash-backed to MDAs.
The Finance minister added that the total amount so far utilised by the
MDAs was N320.9 billion, out of a capital budget of N1.3trillion for
2012,pointing out that government had also disbursed N30 billion for
projects, under the 180 billion earmarked as its share of the Subsidy
Reinvestment and Empowerment Programme (SURE-P).
Okonjo-Iweala noted that to ensure the right approach was
adopted, the ministry had completed the 2013 draft copy for onward presentation
to the National Assembly,but regretted that the House of Representatives were
not ready to accept it from the President because they were not comfortable
with the level of implementation of the 2012 budget.
The 2012 budget of N4.6-97- trillion focusing on economic
growth, job creation and development was signed into law in April by the
President .
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