Lai Mohammed: Nigeria Government goes bankrupt – Minister says

The minister said this on Tuesday, December 12, 2017, while defending the 2018 budget at the Senate.

The minister for information and culture, Lai Mohammed has said that the Federal Government lacks the funds to implement capital votes in the 2017 budget.

The minister said this on Tuesday, December 12, 2017, while defending the 2018 budget at the Senate, Tribune Online reports.

Mohammed said “it is not that government is deliberately withholding releases to fund the 2017 budget or starving us. It is because we do not have enough money to do that.

“When budgets are made, they are made based on certain assumptions and if you are not able to get enough to meet your assumptions, there will be poor release.

“At least, there is an improvement in different sectors like the Nigeria Customs Service, while the price of crude oil is getting better. There is also more peace in the Niger Delta. So we can produce more.”

Lai Mohammed contradicts Finance minister

Lai Mohammed’s statement contradicts that of the minister of finance, Kemi Adeosun, who told some French investors on Monday, December 11, 2017, that the Federal Government has N1.2 trillion to Ministries, Departments and Agencies (MDAs) of government for implementation of capital projects contained in the 2017 budget.

The minister also said that the government had previously released N450 billion for capital projects, and with additional N750 billion, a total of N1.2 trillion would have invested in infrastructure in the country.