Wednesday, March 11, 2020 7:52 am
The Accountant-General of the Federation, Ahmed Idris, has said that though the recurrent component of the 2020 budget is being implemented, the Federal Government was yet to release the N340 billion it voted for capital projects in the first quarter of the year.
Idris, spoke at an interactive session with the Senate Committee on Finance on Tuesday evening.
According to him, three months after the passage of the 2020 Appropriation bill, only the sum of N20.786 billion has been released for what he described as “Capital Supplementation” while no dime has been released for real capital projects.
But he added that the Cash Management Office (a department in the AGF’s Office) was working on the release and that hopefully the process will be concluded by next week.
According to him, the FG has released the sum of N493.92 Billion, representing 6.5 per cent of the Personnel Cost for January and February.