Nigeria’s government is to allocate 60
billion naira ($180 million) more spending on capital projects as part of the
2016 budget and in addition to earlier releases, Finance Minister Kemi Adeosun
said on Friday, as it tries to boost the economy.
Africa‘s largest economy is in the middle of
its worst financial crisis for decades as a slump in oil revenues hammers
public finances and the naira.
The central bank governor has said recession is
likely.
Government capital spending so far has
exceeded 400 billion naira this year, Adeosun said, despite the record budget
being held up for months by wrangling between President Muhammadu Buhari and
parliament.
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