She made this clear during an interactive session with the Senate
Joint Committee on Appropriation, Finance, Public Account and National
Planning. Dr. Okonjo-Iweala further said that, in view of the fact that
the implementation of the budget began only in April, the budget was still on course, having achieved about 40.2 per cent implementation in four months.
“The country is absolutely not broke, though it may have problem of
cash flow at times, but it is not out of place. There may be temporary
cash flow issue but broke, no.’’
She then explained that out of the N1.3trillion allocation for
capital projects, N404 billion had been released while N184 billion had
been utilised. She further disclosed that about N140 billion
representing 44 per cent of the amount was still in the Central Bank of
Nigeria (CBN) waiting for Ministries, Departments and Agencies(MDAs) to utilise.