Finance
FG Spent 15% of Earnings on Infrastructure – Fashola
- FG Spent 15% of Earnings on Infrastructure – Fashola
The Federal Government spent 15 per cent of its earnings on infrastructure as one of the measures to get the country out of recession, the Minister of Power, Works and Housing, Mr. Babatunde Fashola, said on Tuesday.
Fashola said this at the Nigeria Mining Week in Abuja, adding that the government was focusing on mining and agriculture in order to reinvigorate the economy.
He said, “We have come out of recession. We spent almost 15 per cent of what the country earned on infrastructure. The allocation was doubled to 30 per cent in 2017, about N1.2tn on capital projects. It was the first time that amount of money was spent on capital projects.
“Construction industry itself which had been in negative growth started picking up as a result of the implementation of the budget.”
He listed the projects that the government was focusing attention on to include the hydro-power plants in Mambilla and Zungeru.