2017 Budget Ready For FEC Approval
The 2017 Budget has reached an advanced stage. The document had already been extensively reviewed by the Economic Management Team (EMT).
Minister of State for Budget and National Planning, Zainab Ahmed, disclosed after the Federal Executive Council (FEC) meeting in Abuja.
The 2017 budget estimates would now be presented to the Federal Executive Council for approval. Then it will sent to National Assembly for passage into law.
She said the federal government is working hard to ensure that the National Assembly pass the 2017 budget this year so that implementation would start in January next year.
The minister also disclosed that the federal government has so far released N720 billion to Ministries Departments and Agencies (MDAs). This out of the N1.8 trillion budgeted for capital projects in the 2016 Budget
FG Release Funds for Social Investment Programme
Zainab Ahmed said the government is ready for the implementation of the N500bn social investment programme. She said the programme is to be rolled out in four parts.
“First is the homegrown school feeding programme which is targeting 5.5m primary school pupils from primary 1-3. 11 states are fully ready to start and the first phase will feed 3.5m school children.
“The second programme is a job creation programme which is aimed at preparing 500,000 university graduates. Graduates will be equipped with devices containing information to train them as teachers, agricultural workers and also as health support workers. They will be deployed to work in their local community. They will be receive a monthly stipend of N30, 000 monthly for a period of two years.”
“Third is the Conditional Cash Transfer (CCT). One million care givers will be given N5,000 monthly for a period of two years. Focus has been given to the extremely poor and vulnerable in our society. Special emphasis is being placed on the northern eastern part of the country where a lot of internally displaced persons are.”
“The fourth is the enterprise promotion programme which is essentially the loan scheme. It will be handled by the Bank of Industry (BOI). A total of 1.6 million people made up of market women, traders, artisans, small businesses, and youths will be given loan from N10,000 to N100, 000 with a repayment period of three to six months and administration cost of five per cent.”
The minister also added that the school-feeding programme has started in some states like Kaduna and Osun.
FEC Approves Kaduna Power Plant Project
Minister of Power, Works, Housing and Urban Development, Mr. Babatunde Fashola, also disclosed that the Council had approved the 215 megawatts Kaduna power plant project.
“The memo sought procurement and implementation defects and lack of budget support for the project. It was started in 2009 and should have been completed in 2012. We are now in the position that we can complete this project by next year to add 215 megawatts of power to the national grid. And in particular dedicate some of the power to Kudan Dam in Kaduna to support industrial complex there.”
“The second project approved is the construction of a sub-station to evacuate 40 megawatts of power from the Gurara Hydro Electric Power Plant, Phase 1, to connect to Kaduna and to enable it to interconnect to Mamdo Transmission Substation. This will strengthen the transmission grid.
“What these two approvals will do is to complete ongoing projects, which is a commitment of this administration. It will create work because contractors will return to site and also increase our power by 215 megawatt. We will get 40 megawatt extra from Kaduna into the grid from Gurara Phase 1. We are also expanding the transmission across the country.”