– Minister of Power, Works and Housing, Mr Babatunde Fashola has revealed that the federal government spent 15% of its earnings on infrastructure
– He said this was one measure to get the country out of recession
– He said this at the Nigeria Mining week in Abuja
Former governor of Lagos State and Minister of Power, Works and Housing, Mr Babatunde Fashola has revealed on Tuesday that the Federal Government of Nigeria spent 15 per cent of its earnings on infrastructure. He also revealed that this was one of the measures to get the country out of recession.
Fashola said this at the Nigeria Mining Week in Abuja, adding that the government was focusing on mining and agriculture in order to reinvigorate the economy.
In his words, he said, “we have come out of recession. We spent almost 15 per cent of what the country earned on infrastructure. The allocation was doubled to 30 per cent in 2017, about N1.2tn on capital projects. It was the first time that amount of money was spent on capital projects.”
He also listed the projects that the government was focusing attention on including the hydro-power plants in Mambilla and Zungeru.