Power Ministry, DisCos, contractors set to benefit from N7.298tr budget


Contractors are to smile in the New Year..if the Federal Government keeps its word to pay them. They and others are being owed about N2 trillion, details of which President Muhammadu Buhari said were being compiled, The Nation reports.

The President spoke yesterday at the presentation of a N7.298 trillion budget for the 2017 fiscal year. Also to be cleared are outstanding electricity bills owed the troubled Distribution Companies (DisCos). The presentation made at a joint session of the National Assembly has Power, Works and Housing receiving the lion’s share of N529 billion.

Christened “budget of recovery and growth”, its implementation will be based on the economic recovery and growth strategy. The government proposed a budget size of N7.298 trillion, which is a nominal 20.4 per cent increase over 2016 estimates.