|
|
Nigeria to slash capital budget by 25 percent next year |
 |
+ |
- |
10:51, September 07, 2007 |
The Nigerian government is to slash capital spending in the 2008 budget by 25 percent, Minister of Finance Shamsuddeen Usman said here Thursday.
Usman told the Joint House of Representatives Committees on Appropriation and Finance that the capital budget in 2007 was unusually high and the level of performance for the first half of this year was below 38 percent.
Ministries and parastatal establishments which carry forward their expenditure to the next year will be deemed to be acting illegally under the new administration which took office on May 29, Usman said.
Usman urged the Nigerian National Assembly to impose sanctions on some ministries and agencies that were still spending 2005/2006 capital budgets.
Source: Xinhua
|
|
|
Comment
Tell A Friend
Print Format
Save Article