Amid fears of possible disruption in government’s spend ahead of the 2019 general elections, the Federal Government at the weekend assured that its capital budget would be insulated from the vagaries of politics but strictly deployed to fund infrastructural projects across the country, with concerted efforts to complete ongoing ones.
The Minister of Finance, Mrs. Kemi Adeosun, made the disclosure in Abuja at the weekend while representing the Vice President, Prof. Yemi Osinbajo, at a lecture delivered to the National Defence College (NDC) Course 26 participants.
Responding to an enquiry by a member of the NDC Course 26 on the use of the capital budget for general elections, Adeosun maintained that the present administration would not engage in the diversion of the capital project funds for the forthcoming elections.
The Minister said, “the administration remains committed to infrastructure spending at the highest levels over the past two years and the completion of major ongoing projects.”
She further reiterated the commitment of the Buhari administration to its programme of transformation, jobs and wealth creation across the country.
Adeosun explained that the N8.612 trillion budget would focus on massive infrastructure development, which include key strategic roads, rail projects and power projects, among others.
Delivering the Vice President’s lecture to the Course 26 participants titled, “Economic Dimensions of National Security: The Nigerian Experience”, the Minister said improvement in economic security was vital to Nigeria’s economic growth, human security improvement and realisation of national defence and security requirements.
She assured that the Federal Government would continue to play a key role in ensuring national cohesion by promoting social inclusion as a key state objective.
“Economic development is a springboard for improved national security because it comes with growth, which enables more resources for a growing population.
“National economic development means that a country can meet its national security needs without depending on outsiders for the provision of its defence and security needs. Depending on food and energy imports makes a nation vulnerable to external pressure,” said the Vice President, who chairs the Economic Management Team (EMT) of the government.
She disclosed that the administration adopted the Economic Recovery and Growth Plan (ERGP) as a response to the recession towards restoring growth and reducing Nigeria’s vulnerability to external shocks.