BREAKING: FG Spent N1.8trn On Capital Projects In 2020-Finance Minister

The Federal Government spent a total of N1.8trn on the execution of capital projects in the 2020 fiscal period.

The Minister of Finance, Budget and National Planning, Zainab Ahmed gave the figure on Tuesday during the public presentation of the 2021 approved budget.

Ahmed during the virtual presentation said the N1.8trn spent on capital projects for the 2020 fiscal period represents about 89 per cent of the provision made for capital projects.

The minister explained that out of the N1.8trn spent on capital projects, the sum of N118.37bn was released for COVID-19 related capital expenditure.

She stated that while the Federal Government had projected the sum of N9.97trn expenditure for 2020, it actually spent about N10.08trn representing 101 per cent performance.

She put the amount spent on debt servicing at N3.27trn while the sum of N3.19trn was released for payment of salaries and pensions.

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