Abuja — The Federal government has announced that it can no longer fund the capital projects provided for in the 2017 budget. This came to light yesterday when the Senate joint committee on Finance and Appropriation subjected the ministers in charge of Finance as well as Budget and National Planning, Kemi Adeosun and Udoma Udo Udoma, to intense grilling over what it considered as very poor implementation of the budget.
The Senate described as unacceptable the release of less than 15 per cent of the N2.240 trillion voted for capital projects in the N7.44 trillion 2017 budget just as many Senators pointed out that such development would be very inimical to the fate of the All Progressives Congress (APC) in the next election.
Udoma linked the poor implementation of the budget to the delay by the Senate in approving the Federal Government's plan to borrow some money to fund the 2017 budget.
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