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| Yemi Osinbajo |
Nigeria will spend 100 billion naira ($312.50 million) on capital projects in the coming days as part of the 2016 budget, Vice President Yemi Osinbajo said on Thursday.
Government capital spending so far has reached 332 billion naira, Osinbajo said.
The record budget has been held up for months by wrangling between President Muhammadu Buhari and the National Assembly.
“Another 100 billion naira will be released in the next few days to fund power, housing, transport, agricultural and defence projects.
“We have pledged to keep capital spending at a minimum of 30 percent (of the 6.06 trillion naira budget),” Reuters quoted the vice president as saying at a business forum in Lagos.
But Osinbajo also said many states in the country were still struggling to pay the salaries of civil servants, despite assistance from the federal government.
He said a float of the naira and more flexible foreign currency regime in June had eased pressure on foreign reserves, without giving details.
“I believe there will be an increase in supply of foreign exchange,” he said.
