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Finance Ministry Slashes Ministry of Works’ Budget from N100 Billion to N11 Billion

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Minister of Works

Mike Onolememen – Minister of Works

Minister of Works, Mike Onolememen, has revealed that the ministry’s N100 billion proposed budget for 2015 has been cut down to N11 billion by the Ministry of Finance.

Onolememen, stated that the finance ministry took the drastic action due to “the economic realities on the ground,” Punch reports.

The minister further expressed concerns that “only 33 out of the 210 ongoing road projects had been provided for in view of the lean allocation to the ministry.”

He also stated that the budget was insufficient to encourage contractors to sustain significant progress on their respective work sites.

In addition, Onolememen stated that since 2011, the ministry of works had always been owed outstanding budgeted funds.

“Only N45, 682, 844, 395.00 billion was released for the works ministry out of 2014 capital appropriation of N98, 814,368,704 billion. This leaves a balance of N53,131,524, 309 not released as of December 2014. It is important to emphasise that the performance of the ministry would have been considerably enhanced if the outstanding budgeted funds of N53.131bn had been released to the ministry.

More importantly, if the cumulative outstanding budgeted funds of N203, 392, 075, 947.25 for the period spanning 2011 to 2014 had been released, the total indebtedness would have been brought down from N230bn to N27bn,” he said.

7 Comments

  1. omooba

    March 10, 2015 at 7:54 am

    stupid government…long over due.why are they doing this now?

  2. Words by Koko

    March 10, 2015 at 9:22 am

    If they stop giving over inflated contracts or contracts to non existent companies and actually follow up on awarded road contracts this money would go a long way. Sorry Oga there is no money to chop now so do what you were appointed to do.

  3. out of the box

    March 10, 2015 at 12:33 pm

    Perhaps the Minister should bring back what he has stolen in those years that he has mentioned and the account of the ministry would smile.

  4. NagosBigBoi

    March 10, 2015 at 5:33 pm

    BN, abeg no make people wey dey work for that ministry die of fear say dem no go get salary this year!
    N11 billion na their capital expenditure. Their total na N39 billion which includes N28 billion for recurrent expenditure.

  5. Mohammad

    March 10, 2015 at 5:41 pm

    See gbege. Dem don chop money finis!

  6. garland orhue

    March 10, 2015 at 7:33 pm

    Okay… It’s a big killing spree and every single one of them is going for it. The timing couldn’t be much perfect and favorable. A dwindling oil price is hanging head to head with what could be a perpetual stage election and all scum bag going for the kill. The economy is as good as dead. Money are being channel into all the wrong places…ELECTION maybe..
    Now let say oil is 100% of our income and this income is reduced to half, does this mean we can’t meet half of what ever it is we suppose to do? Where are all the economics in here… a lame man like me needs some lights… from a supposed 100 billion naira to 11 billion naira. is not even close to a half. Gosh!

  7. Sunshine

    March 10, 2015 at 10:55 pm

    Liars why did the numbers reduce so astronomically? It goes to show that the figures were super inflated in the first place . Buharis win is getting some people worry, so this minister is revised his figure to reflect the right figures.

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