Home Business Slow procurement process delays N770bn capital release utilisation

Slow procurement process delays N770bn capital release utilisation

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The utilisation of the N770bn released by the Ministry of Finance to Federal Government’s Ministries, Departments and Agencies for the implementation of the capital component of the 2016 budget is being slowed down by the bureaucracy in the public procurement process.

The N6.06tn budget for this year has a capital vote of N1.58tn, which is about 26 per cent of the total budget size.

Some of the key projects expected to be implemented in the 2016 fiscal year are the dualisation of the Kano-Maiduguri road for N13bn; reconstruction and pavement strengthening of the Benin-Sagamu Expressway for N8.7bn; and the construction of Oju/Loko Oweto Bridge for N14.2bn.

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