FG Releases N247billion For Capital Projects in 2016

The Federal Government has released a total of 247 billion Naira for the capital projects in the 2016 budget, Minister of Labour and Employment, Sen. Chris Nwabueze Ngige revealed.

Of the total amount, the government has released 80 per cent to the construction industry, stating that the move was informed by the strategic role of the sector in job creation and the reflation of the economy.

The Minister made this disclosure while receiving the leadership of Construction and Civil Engineering Senior Staff Association on Thursday, July 22 in Abuja.

“As of today , the capital releases of the government stand at 247 billion out of which a larger chunk has gone to the construction industry in five ministries -Works and Housing with about 120 billion or there about. Transport- the construction angle of it, rail and others account for another large chunk. So in effect, 80 percent of 247 billion so far released has gone to the construction industry,” He said.

‘’The idea is that government wants to reflate the economy and put money in the hands of the people through these construction companies that have millions of Nigerians in their employ.”

He urged the construction companies to reciprocate government gesture by swiftly mobilizing to site and recalling all workers earlier disengaged to forestall worsening unemployment index and further aggravate the fragile security situation in the country.