The Federal Government on Wednesday assured of effective implementation of the 2016 budget in order to achieve accelerated development in the country.
The Minister of Budget and National Planning, Sen. Udoma Udo Udoma, gave the assurance when he received the German Ambassador to Nigeria, Mr Micheal Zenner in Abuja.
According to a statement issued by Mr Charles Dafe, the Director of Information in the ministry, Udoma had disclosed some blueprint of Federal Government to ensure effective implementation.
The statement quoted the minister as saying “our 2016 budget will be well-managed; on the expenditure side, we are taking measures to ensure the release of funds for capital projects and the projects will be properly monitored.
“This is to ensure that the funds are efficiently utilised toward economic development.
“On our planned N1.8 trillion borrowing for infrastructure development, we have started discussions with our local banks and international financial institutions like the World Bank and China Exim Bank, among others.
“Our budget crux is targeted at import substitution and export promotion.”
The minister commended the German Government over the plan to assist the nation in rebuilding the insurgents’ ravaged North Eastern geo-political zone and the development of the agricultural sector. He said that the Muhammadu Buhari-led administration would prioritise agriculture so that Nigeria would be self-sufficient in food production.