░ RELEASE OF N350BN FOR CAPITAL PROJECTS BEGINS FRIDAY – FG
░ The Federal Government said on Thursday that it would commence the release of the sum of ₦350bn set aside for capital projects contained in the 2016 budget on Friday.
░ The Minister for Budget and National Planning, Senator Udo Udoma disclosed this during the public presentation of the 2016 budget which was signed last Friday by President Muhammadu Buhari.
░ The minister said, “We are ready to kick-start the implementation of the budget and by tomorrow (Friday), some releases will be made for capital projects that are ready for execution.”
░ The minister explained that the government through the 2016 budget would be investing massively in infrastructure adding that huge funds have been made available for over 40 road and bridges projects spread across the federation.
░ Some of them are
₦13bn for dualization of Kano-Maiduguri road,
₦8.7bn for reconstruction and pavement strengthening of the Benin-Sagamu expressway
₦14.2bm for the construction of Oju/Loko Oweto bridge.
₦13bn for concession of second Niger Bridge,
₦6bm for dualization of Odukpani-Itu-Ikot Ekpene road in Cross River and Akwa Ibom states
₦8.8bn for rehabilitation of Sokoto-Tambuwal Kotangora road.
░ For the housing sector, the minister said a total sum of ₦35.6bn had been approved for construction of 1,973 blocks of 7,069 housing units in six geo-political zones and the Federal Capital Territory.
░ In the agriculture sector, Udoma stated that in pursuit of the nation’s self sufficiency and food security program, several projects would be implemented.
They are
Rehabilitation of rural roads at a cost of ₦1.3bn,
Support to 187,500 farmers at a cost of ₦1.3bn and ₦940m for development of strategic grazing reserves.
░ For the diversification of the economy, the minister said the government would implement measures to achieve self sufficiency and become net exporter of rice by 2018, tomato paste by 2016 and wheat by 2019.
In the area of social protection, the minister said ₦500bn has been provided for intervention in five areas.
They are job creation where 500, 000 teachers and 100,000 artisans would be trained at a cost of ₦191.5bn;
School feeding program where 5.5 million children would be fed for 200 school days at a cost of ₦93.1bn
₦5,000 a month conditional cash transfer for one million beneficiaries at a total cost of N68.7bn.
░ Others are:
Enterprise programme at a cost of ₦140.3bn to support
one million market women,
460,000 artisans
200,000 agriculture workers;
education grant for 100,000 students in science, technology, engineering and mathematics at a cost of ₦5.8bn.
He said, “We will revitalize and expand agro allied processing to intensify local production and processing of cassava, cocoa, cashew, fruits and sesame seed.
“We are going to adopt and implement a roadmap to stimulate investment into the solid minerals sector and plug revenue leakages in the sector and also implement that National Industrial Revolution Plan and launch the ‘made in Nigeria’ campaign.”