2018 budget: FG will not divert capital project funds for 2019 general elections - Osinbajo

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- Nigeria's vice president Yemi Osinbajo has reiterated the federal government's commitment to utilise the capital project funds for what it is meant for

- Osinbajo was reacting to speculations that the Buhari-led administration would divert the capital project funds in the 2018 budget for the 2019 general elections

- He said that federal government would use the funds for infrastructural projects across Nigeria

Vice President Yemi Osinbajo on Sunday, February 11 assured Nigerians that the Buhari-led administration will not divert capital project funds in the 2018 budget for political purposes in the coming 2019 general elections.

Osinbajo reiterated the federal government’s resolve towards boosting the country’s economy through infrastructure development, Vanguard reports.

NAIJ.com gathered that the minister of finance, Kemi Adeosun, gave the vice president's statement while representing him at a lecture delivered to Course 26 participants at the National Defence College (NDC) in Abuja.

The statement said that the federal government’s capital budget would be strictly deployed to fund infrastructural projects across the country, adding that the federal government would retain the capital budget in spite of the forthcoming general elections.

The statement read: “The Administration remains committed to infrastructure spending at the high levels of the past two years and the completion of major ongoing projects.”

The statement also reiterated the commitment of the current administration's commitment to transformation, jobs and wealth creation across the country.

President Muhammadu Buhari had on November 7, 2017 presented a budget of N8.612 trillion to the National Assembly, with focus on massive infrastructure development which includes: key strategic roads, rail and power projects, among others.

The statement added: “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 defense and security needs. Depending on food and energy imports makes a nation vulnerable to external pressure."

Osinbajo also stated that the administration adopted the Economic Recovery and Growth Plan (ERGP) as a response to the recession toward restoring growth and reducing Nigeria’s vulnerability to external shocks.

On the Social Investment Programme, the vice president revealed that about 200,000 N-Power jobs had been created under the programme while 250 million meals had been served under the Home Grown School Feeding Programme, adding that 300,000 micro loans had been issued under the Government Enterprise and Empowerment Programme.

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Meanwhile, NAIJ.com previously reported that Senator Aliyu Sabi Abdullahi of Niger state who is the Senate's spokesperson, said that no date had been fixed for the passage of the 2018 budget.

President Muhammadu Buhari had presented the budget in November 2017 earlier than that of 2016 and 2017, but in spite of that, the budget had still not been passed.

Sabi said the delay of the budget was due to 'lackadaisical attitude' of heads of MDAs toward the ongoing budget defence.

STREET GIST: Signing of 2017 budget in June, same old story? - on NAIJ.com TV