Nigeria’s Finance Minister, Mrs. Kemi Adeosun on Wednesday received the Director African Department of the International Monetary Fund (IMF), Mr. Abebe Aemro Selassie at her office in Abuja.
Adeosun told the IMF chief that the current administration is on course in its efforts to steer Nigeria’s economy out of recession.
The minister said infrastructure development remains of greatest importance to the President Buhari-led government, noting that the current administration cannot afford to be unproductive with Nigeria’s population hovering above 180 million people.
She noted that the government is now shifting attention from recurrent expenditure to capital projects, which she said was not the case in the last 7 years.
“The allocation for capital projects in 2015 budget was just 10 per cent while the recurrent was 90 per cent which had been the case in the past six to seven years,” the minister recalled.