Minister of Budget and National Planning, Udoma Udo Udoma who briefed state House correspondents after the weekly Federal Executive Council meeting on Thursday said the draft document is now ready for transmission to the National Assembly.
Udoma who was not forthcoming with Information on the projections of the 2018 Budget noted that the Executive and the leadership of the National Assembly will meet to agree on a date when it will be convenient for President Muhammadu Buhari to present the Budget proposals to the Federal Lawmakers for consideration.
Minister of Finance Kemi Adeosun told reporters that so far, Government has released a total of four hundred and fifty billion naira to fund capital projects in the 2017 Budget.
The Finance Minister also hinted of council’s resolve to adopt a public private partnership to ensure effective maintenance of roads across the country.
According to her, the initiative will afford private sector players the opportunity to enjoy tax rebates for partnering to construct federal roads.
Council also approved seven hundred and ninety six million naira for the construction of a fourteen kilometer three hundred and thirty kva transformer plant for the transmission company of Nigeria in Azura.