November 20, 2017

Reps seek increased capital expenditure for stability (Guardian)

Reps seek increased capital expenditure for stability (Guardian)

Members of House of Representatives have urged the Federal Government to increase the capital budget benchmark it has attained so far this year in order to sustain the country’s exit from recession.

In a chat with The Guardian, Kehinde Odeneye representing APC, Ogun State said the 40 per cent funding for capital projects, which the government claims to have achieved so far in 2017 is insufficient to stabilize the economy and avoid it from relapsing into another round of recession.

Most worrying, Odeneye said, is government’s insistence to wind up capital budgets funding by December this year, a situation he said might lead to shortfalls in contracts mobilisation and payments. Read more

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