Permanent Secretary of the Ministry, Mrs. Anastasia Daniel-Nwobia, disclosed this at a public hearing organized by an ad hoc committee of the House of Representatives on non implementation of capital projects in the 2015 budget, in Abuja; THE UNION reports.
She said,”Following the drastic decline in revenue gap due to fall in oil prices and the processing time it takes to conclude external borrowing, the amount appropriated for external borrowing N380 billion has also been funded through the domestic bond market.
”Accordingly, a total amount of N882.122 billion appropriated for both domestic and external borrowing has been fully raised”. She stated that despite ongoing cash crunch, the ministry continued to evolve fiscal policies to grow the economy by putting in place measures to diversify the economy, promote fiscal discipline, and improve non-oil revenue generation amongst other measures toward improving the well being of Nigerians.
