IN THE SPIRIT OF CELEBRATION, PRESIDENT MUHAMMADU BUHARI ORDERS MINISTRY OF FINANCE TO RELEASE N600 BILLION FOR CAPITAL EXPENDITURE

As Nigeria marks its 59th independence anniversary, President Muhammadu Buhari has ordered the Ministry of Finance, Budget and National Planning to release the sum of N600 billion for capital expenditure within a three-month time frame.

Buhari, who is fast settling down for his second term as president, claimed he had previously ordered the release of N1.74 trillion for capital expenditure as at June 20, 2019.

The N1.74 trillion so far spent was encapsulated in the 2018 budget.

He said the implementation of the 2019 capital budget, which was only approved in June 2019, will be accelerated to ensure that critical priority projects are completed or substantially addressed.

Buhari in his Independence Day address did not fail to criticise the administration of his predecessor, Goodluck Jonathan, saying he dwelt more on oil revenue to the detriment of the non-oil sector which held better prospects for economic growth.

Buhari also took a swipe on social media fanatics in Nigeria, insisting that more often than not, they leverage on information technology to cause hatred among Nigerians.

He warned that his administration will not relent in sanctioning any erring personality found wanting in that regard.

On fighting corruption and restoring good governance, the president said, “Our institutional reforms to enforce the Treasury Single Account policy, introduce the whistle-blowers’ initiative, expand the coverage of the Integrated Payroll Personnel and Information System as well as the Government Integrated Management Information System have saved billions of naira over the last four years, and deterred the rampant theft and mismanagement of public funds that have plagued our public service.”

He therefore called on states to intensify their own efforts to instill greater fiscal transparency and accountability and to ensure greater fiscal efficiency and optimum use of our very scarce resources.

He reiterated call for unity across Nigeria.