Finance Ministry Releases N400 Billion 1st Quarter Capital

Ngozi-Okonjo-Iweala-manag-001The Federal Finance has released the sum N400 as first capital budget to give fresh impetus to the execution projects captured in Budget 2013.

A statement by Paul C Nwabuikwu,Special adviser to the Coordinating the Economy and Finance   said this amount, N120 had frontloaded to cater two important initiatives:N75 retiring bonds which have come due. This is in line with the new debt management strategy which focuses on reducing the stock and flow debt in a proactive manner and N45 billion for the payment of PHCN workers.

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