Skip to main content

FG urged to monitor funds released for capital projects

Buhari

Buhari

Dr Titus Okunronmu, a former Director, Budgetary Department, Central Bank of Nigeria (CBN), has advised the Federal Government to monitor the use of funds released for capital projects to bridge the infrastructural gap in the country.

Okunronmu told on Saturday in Ota, Ogun, said that effective monitoring of such funds would accelerate economic growth in the country.

He noted that investment in capital projects was one of the catalysts that could boost national development and attract foreign investors into the country.

The ex-CBN director lamented that proper monitoring by the past administration and corruption had hindered the infrastructure development and sustainable growth.

“No nation can achieve a meaningful development without taking investment in capital projects as a priority in its agenda.

“Massive investment in capital projects will lead to establishment of industries that would provide job opportunity for the unemployed youths and eradicate poverty in the country,” Okunronmu said.

He also appealed to the Federal Government to allocate more funds for capital projects in the nation:s annual budget and tackle incessant corruption.

The Minister of Finance,Mrs Kemi Adeosun, on Friday in Abuja said that between May to date, the Federal Government had released N400 billion for capital projects.

Comments

Popular posts from this blog

Houthis Claim Attack on Central Israel in Response to Gaza ‘Massacres’

The ongoing conflict between Israel and Hamas has taken a concerning regional turn as the Houthi rebels in Yemen claimed responsibility for an attack on central Israel. The group announced this as part of their escalating response to what they describe as "massacres" in Gaza amid the Israeli military’s operations in the strip. Details of the Attack The Houthis, a Shiite militant group with ties to Iran, declared that they launched missile and drone strikes targeting Israel. While the exact impact of these attacks remains unclear, reports suggest that Israel’s defense systems intercepted several threats over its airspace. This marks a significant escalation as the Houthis widen their involvement in the conflict beyond their typical operations within Yemen and neighboring Saudi Arabia. The Houthis’ Justification In their statement, the Houthis framed the attack as retaliation for Israel’s military actions in Gaza, which they characterized as indiscriminate bombings resultin...

Fire: UniJos Senate convenes emergency meeting on Monday

Fire at the University of Jos Library University of Jos is to convene an emergency senate meeting on Monday to review the level of damage done to the institution by the Saturday night inferno. The Vice Chancellor, Prof. Sebastian Maimako, disclosed this on Sunday after inspecting areas affected by the incident. The fire, which lasted for more than six hours, destroyed the Library Complex that equally houses the faculties of management and social sciences. The fire also destroyed examination scripts, books and very crucial materials. Consequently, the vice-chancellor said “the Senate will meet tomorrow (Monday) to take a decision about the unmarked examination scripts that were burnt.” On the cause of the inferno, Maimako said investigation had commenced, adding that “nothing has been confirmed yet. We are still investigating.” The vice chancellor said the school was already working with federal authorities toward establishing a main fire station since the mini fire station in t...

NDLEA arrests 252 suspects, seizes 3,073 kg Indian hemp

NDLEA operatives The NDLEA in Niger on Monday said that it had arrested 252 suspects and seized 3,073.9 kilogramme of Indian hemp(cannabis sativa) in the state. The NDLEA Commander in the state, Mr Joseph Iweajunwa, who disclosed this in Minna, said that the operations were carried out between January and September. “Our operations in Niger State from January to September 2016 led to the arrest of 252 suspects and seizure of 3,073.997 kilogramme of cannabis sativa,’’ he said. Iweajunwa said that within the period, the agency also seized 1, 530 litres of liquid drugs, especially cough syrup with codeine. He said the NDLEA also counselled and rehabilitated 90 drug addicts in the state within the period under review. The agency, he added, secured convictions of only nine of the suspects because the judge at the Federal High Court, Minna, went on leave. “ Now that the judge has resumed more suspects will be tried,’’ he said. He advised motorists, especially commercial vehicle dri...