The Minister of Finance, Kemi Adeosun, has disclosed Federal Government’s intention to roll over at least 60 per cent of 2017 capital projects to 2018 fiscal year.
According to her, the decision was based on advice of the Senate Committee on Appropriations and Finance to the executive on how to make the budget more implementable.
Adeosun made this known when she appeared before the Senate Joint Committee on Finance and Appropriation in Abuja.
The minister noted that there was no stoppage in terms of capital releases and projects.
Adeosun said: “we had a rollover from the 2016 to the 2017 budget. There was no stoppage in terms of capital spent as projects simply continued.
“In the way in which we allocated the fund, the prioritisation was according to the objectives of the economy and growth plan.
“We were focused on project completion. So, we prioritised projects that were nearer to completion that were critical in the first releases of capital.
“We need more of your support. We have a number of resolutions that we need to complete international borrowings.”
Earlier, Chairman of the joint committee, Sen. Danjuma Goje, had said that the two ministers were at the National Assembly to brief the committees as well as Nigerians on the implementation of the 2017 budget.
“It is very important bearing in mind that the budget was passed by the National Assembly in May and signed into law by the then Acting President Yemi Osinbajo on June 6, 2017.
“We are now four months into the implementation of the budget. Nigerians need to know how far we have gone and what we are going to achieve.
“We have heard from the Minister of Budget and National Planning that they intend to submit the 2018 budget this month.
“By implication, if they bring it this month, they will expect the budget to be approved before the end of the year,” he said.