Trade and Investment Ministry plans to spend N26.1bn in 2018

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    Trade and Investment Ministry has revealed the plan to spend N26.1billion for its operations in 2018.

    This was disclosed on Thursday by Trade and Investment Minister of State, Aisha Abubakar Abubakar while defending the Ministry’s 2018 Budget at the House of Representatives in Abuja.

    According to her, N23.2 billion was earmarked for capital expenditure, while N722.8 million was budgeted for overhead. She said that N2.1 billion was set aside for personnel cost.

    On 2017 Budget performance, Abubakar said N21.5 billion was approved for the Ministry, out of which N19.2 billion was capital expenditure.

    She noted that that only N3 billion, representing 16 per cent of the capital vote was released, adding that 2.1 billion of the amount, which represented 70 per cent has been spent so far.

    For the 2017 overhead, the Minister said N701.9 million was appropriated but out of which only N246.5 million or 35 per cent was released, adding that N224.8 million representing 91 per cent of the amount released for overhead had been spent by the Ministry.

    Totally, she said that revenue projection by the Ministry for 2017 was N812.2 million, but said that only N178.9 million had been realised.

    Abubakar said that N1.7 billion was earmarked for personnel cost and was being handled by the IPPIS, Federal Government’s central centre for salaries.

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