Shortly after the retreat at the Presidential Villa in the middle of this month, the Minister of Finance, Mrs Kemi Adeosun, made some startling announcements which pointed to a deepening recession contrary to the assurances that it will soon be over.
The Minister told reporters that government had just released additional N350 billion for capital expenditure - bringing the total to N700 billion this year. However, Mrs Adeosun failed to tell her listeners that the budget in 2016 for capital is N1.8 trillion and that N700 billion represents 43 per cent of the year's total with only one quarter of the year to go.
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