The Minister of Budget and National Planning, Sen. Udoma Udo Udoma, on Tuesday said that the Federal Government had so far released N331.58 billion to Ministries of Defence and Power.
Udoma made this known at a Town Hall Meeting and Policy Dialogue for Good Governance organised by the Federal Ministry of Information and Culture in Abuja.
The meeting was organised by the ministry in collaboration with Alumni Association of the National Institute for Policy and Strategic Studies with the theme: ``Toward Effective Implementation of the 2016 Budget’’.
The minister said that the Ministry of Power, Works and Housing got bulk of the fund so far released by the ministry of budget and national planning.
He explained that the sum of N100 billion was released to the ministry of power, works and housing while N50 billion was given to the ministry of defence.
Similarly, Udoma said that N22 billion was released to the Ministry of Transportation; N21 billion was also released to the Ministry of Agriculture, while the Ministry of Niger Delta Affairs got N8.2 billion, respectively.
The minister said that the destruction of oil facilities in the Niger Delta region had drastically affected the revenue generation of the country.
He said that during the 2016 budget estimate, the Federal Government projected to be selling 2.2 million of barrel of crude oil per day, but that the hostilities in the region had affected such projection.
"We are badly affected by the disruption of oil facilities by the Niger Delta Avengers, because we still relied on oil sector to finance the budget,’’ Udoma said.