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FG releases N200bn for Q2 capital projects

By on June 21, 2014

The Federal Government on Thursday released the sum of N200bn to its Ministries, Departments and Agencies for the implementation of the second quarter capital projects contained in the 2014 budget.

The development was confirmed by the Minister of Finance, Dr. Ngozi Okonjo-Iweala, through a statement issued by her Special Adviser on Communications, Mr. Paul Nwabuikwu.

The two-paragraph statement said the fresh amount released had brought the total capital releases for the first and second quarters of this year to N400bn.

The statement read, “The Federal Ministry of Finance has released the sum of N200bn for capital projects for the second quarter of the year.

“This brings the total capital releases for the first two quarters of 2014 to N400bn.”

The Senate had on April 9 passed the budget, raising the amount in the fiscal document from the N4.642tn submitted by President Goodluck Jonathan to the National Assembly on December 19, 2013, to N4.695tn.

Highlights of the budget as passed by the upper chamber of the National Assembly and signed by Jonathan are: statutory transfers, N408.68bn; debt servicing, N712bn; recurrent expenditure, N2.454tn; and capital expenditure, N1.119tn.

The lawmakers had tinkered with the original provision of the budget, raising the recurrent expenditure from the original N2.43tn submitted by the executive to N2.454tn.

They also raised the capital expenditure to N1.119tn from the N1.10tn earlier proposed.

On the focus of the 2014 budget, Okonjo-Iweala had stated that many policies that would drive economic growth would be implemented in various sectors of the economy.

Some of these are the housing policy, which will be implemented by the Nigeria Mortgage Refinancing Company; the sugar policy and the automotive policy.

For instance, the minister said that beginning from next month, about 10,000 people would begin to benefit from the mass housing scheme of the Federal Government.

For agriculture, aviation and solid minerals sectors, she said they would get massive support through incentives in the area of equipment to boost their contributions to Gross Domestic Product.

 

 

[Punch]

3 Comments

  1. Nigeria Custom service

    June 21, 2014 at 1:21 pm

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    Toyota Avalon # 700,000
    Toyota Avensis # 750,000
    Toyota Camry # 550,000 – # 1M
    Toyota Corolla # 550,000
    Toyota FJ Cruiser # 750,000
    Toyota Hiace # 1.5M
    Toyota Highlander # 1.5M
    Toyota HiLux # 900,000
    Toyota Matrix # 750,000
    Toyota Prado # 2M
    Toyota Rav4 # 700,000
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    Toyota Yaris # 550,000
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    Volkswagen Golf # 350,000
    Volkswagen Jetta # 400,000
    Volkswagen Passat # 550,000
    Volkswagen Touareg # 900,000
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    3. A bank teller of #150,000 for the dealership certificates
    4. A well filled CUSTOM ORDER FORM
    5. Original certificate and a good resume
    6. Age declaration/Birth certificate
    7. Local/State govt of origin

    FOR INDIVIDUALS

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    6. Local/State govt of origin For the
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    Note: No buyer should come with money to the office
    for security reasons.

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    PRICES OF SOME TOYOTA CARS:
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    • Toyota Prado N950,000
    • Toyota Highlander -N800,000
    • Toyota Corolla –N400,000
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    • Toyota Hiace Bus – N550,000
    • Toyota Coaster Bus 32 seaters N1,000,000

    PRICES OF SOME PEUGEOT CARS:
    •Peugeot c230 N400,000
    •C300 N500,000
    •Peugeot 606- N500,000
    •Peugeot 407-N400,000
    •Peugeot 406- N350,00
    •Peugeot 405- N300,000

    PRICES OF SOME HONDA CARS
    •Honda Civic cars – N350,000
    •Honda Accord – N400,000
    •Honda CR-V – N520,000
    •Honda Odyssey – N620,000
    •Honda Pilot – N750,000

    PRICES OF SOME NISSAN CARS:
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    • Nissan Xterra jeep – N500,000
    • Nissan Sunny sedanN350,000
    • Nissan Patrol SUV – N500,000
    • Nissan Civilian 30 seater bus – N900,000
    • Nissan Pathfinder SUV – N700,000
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    PRICES OF SOME ROVER CARS:
    • Range Rover – N1million
    • Rover 630i – N350,000
    • Rover 620i – N300,000

    PRICES OF SOME INFINITI CARS:
    • Infiniti QX57 – N850,000
    • Infiniti QX56 -N820,000
    • Infiniti FX45 -N800,000
    • Infiniti FX35 -N750,000

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  2. Blessing

    June 21, 2014 at 2:12 pm

    This is a good development. Good to know that the government is committed to strengthening the economy.

  3. Bose Hakeem

    June 21, 2014 at 6:02 pm

    Welcome to the Website of the Nigeria Customs Service. We sincerely
    hope that the global trading community, travellers and other
    stakeholders will find the information provided through this medium
    useful and timely.

    Dynamics of Technology have changed the conduct and scope of
    international trade. As a critical actor in the unfolding development,
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    about Customs Operations is therefore considered very vital to trade
    facilitation in a world that is becoming increasingly technologically –
    driven.

    This website project is therefore in realization of our conscious
    role as trade facilitators and principal enforcers of government’s
    fiscal policies.

    As products of Government Reforms Programme, we have accepted the
    onerous challenge of responsive and efficient service delivery in a
    transparent environment. To achieve this, we have in place a management
    team that is focused and determined to lead Customs into a new dawn.

    We hope that all our stakeholders will find this website a useful
    guide and reference. CUSTOM IMPOUNDED CARS FOR SALES AT CHEAPER AND

    AFFORDABLE PRICE,

    INTERESTED BUYERS SHOULD PLEASE CONTACT OUR

    ZONAL OFFICE ON CUSTOM AKINDELE FEMI ON

    (08109287034) Immediately

    E.G. GOLF2,3,4,5 FROM N200,000-N400,000.

    toyota camry BIG DADDY =N450,000.

    HONDA ACCORD BABY BOY =N400,000.

    toyota MATRIX =N500,000.

    toyota PRADO =N600,000.

    toyota HIACE BUS =N450,000.

    toyota AVALON =N400,000

    toyota COROLLA =N400,000.

    MAZDA =N350,000

    END OF DISCUSSION =N450,000

    HONDA EVIL SPIRIT =N400,000

    toyota camry 2.2 T.L =N230,000

    toyota AVENSIS =N400,000

    toyota RAV4 =N450,000

    toyota SEINNA =N400,000

    toyota HIGHLANDER =N550,000

    NISSAN MURANO =N500,000

    NISSAN PATHFINDER =N500,000

    INFINITY JEEP FX 35 =N500,000

    & FX 45 =N550,000

    MERCEDES BENZ ML350 =N400,000

    VOLVO =N500,000

    HONDA HYBRID =N450,000

    HONDA ELEMENT =N400,000

    RANGE ROVER SPORT =N1.2M

    ROVER =N350,000

    PEUGEOT 406 =N300,000

    LEXUS JEEP =N450,000

    ACURA =N400,000

    BMW =N350,000

    toyota DYNA TRUCK =N700,000

    toyota HILUX =N750,000

    NISSAN PETROL SUV =N450,000

    toyota COASTER BUS =N800,000

    AUDI Q7 =N300,000

    PEUGEOT C300 =N350,000

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