Recession :FG To Invest N350 Billion Into Economy Next Week

                                

The Federal Government yesterday said that plans have been concluded to inject N350 billion into the economy next week in order to stimulate economic activities.The minister of Finance Kemi Adeosu who disclosed it also said the process of obtaining $1 billion Eurobond had commenced, noting that it would be concluded before this year ends.

The government further stated that its pledged feeding programme, recruitment of  500.000 teachers and payment of N5000 to vulnerable citizens would commence this month.

The Minister of Finance, Mrs. Kemi Adeosun, who revealed the government’s plan yesterday in Abuja while briefing newsmen, said the funds would be paid to Ministries, Departments and Agencies, MDAs.
 She said when the N350 billion would be released, it would mean that the federal government had disbursed N750 billion for capital projects this year having released N400 billion earlier. While stating that N60 billion had been set aside for social investment, Adeosun said the funds so far released went into on-going projects especially defence, transportation, interior, power and agricultural projects.