“So far … we have released up to N1.2t in capital expenditure, which is a 50 per cent performance of the capital for the whole year 2019. The 2019 budget is also a six-month budget. So we have achieved a ‘fifth per cent’ capital release for 50 per cent performance of the 2019 budget. So, it is difficult then to see how N1.21t capital votes or expenditure can have a serious impact on the economy. The minister is right to put a stop to further releases of the year’s capital votes because such negates international best practices in financial principles.

Source: The Guardian December 29, 2019 04:52 UTC