Moves
to steer the country out of economic recession has received a boost
with the decision of the Federal Government to pump the sum of N350
billion into the economy in the next few days as capital allocation to
ministries, departments and agencies (MDAs).
The implementation of the N5,000 monthly
stipend social intervention programme of the government is also billed
to commence at the end of this month with the release of N60 billion.
Addressing journalists on these
developments and government’s plan for the economy yesterday, the
Minister of Finance, Mrs. Kemi Adeosun, said: “We are releasing another
N350 billion. There will also be the funding of about N60 billion in the
social intervention programme, and that is very important in terms of
putting money into people’s pocket.”
The finance minister stated that when
the N350 billion is released and cash backed in a few days from now, it
will bring the total amount released by the Federal Government to N770
billion for capital projects from the N1.8 trillion budgeted in 2016.
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