• By Kunle Awosiyan
    Dec 27, 2016

    The Federal Government has set aside the sum of  N29 billion for countering insurgency and  militancy in its next year budget. 
    The  government plans to acquire new platforms for air support operations in Nigeria.
    The government  will increase spending on operational logistics.

    Meanwhile, the government and 28 state governments have proposed over N12 trillion in prosperity budgets for next year.
    Of the sum, over N5 trillion will be spent on capital expenditure while recurrent expenditure will gulp over N7 trillion.
    Most of the state governments have allocated more funds to capital expenditure which they will form the building blocks for the way out of recession. 

    In a related development, the federal government plans to issue over N124 billion worth of treasury bills on Thursday, January 5, 2017..
    The bills will have maturities ranging from three months to one year.
    The Central Bank of Nigeria will offer 28 billion in the 9142 billion naira, using the dutch auction system.
    In a notice to dealers, the CBN expects all market dealers to submit bids on Wednesday, January 4, 2017.




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