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    N750b cash-backing: MDAs yet to be credited

    Minister of Finance, Mrs Kemi Adeosun. PHOTO: CNBC AfricaIn the outgoing 2017, about N1.2t may have been paid out (N1.1t to ministries, departments and agencies (MDAs) for implementation of projects captured in the N2.
    1t 2017 Capital Votes Plan, drawn from the Federal Government Consolidated Revenue Fund (CRF), and another N100b raised through the newly introduced Islamic lending style for project-specific investment platform- the Sukuk Bond, floated by the Debt Management Office (DMO), where contractors handling certain roads infrastructure across the six geo- political zones were mobilised to return to site.
    The 2017 budget has been fraught with several challenges, including late passage and assent (June 2017); poor revenue performance (shortfalls) against projections and irregular releases of votes, apparently arising from shortfalls.

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