Federal Ministry of Finance indicated that Federal government has already released a sum of N1.01 trillion towards implementation of the 2013 Appropriation Act.

This is contained in the release signed by the Special Adviser to the Coordinating Minister of the Economy, Paul Nwabuikwu, in which the Federal Ministry of Finance also indicated the release of N160 billion for the continuous execution of capital projects across the country for the fourth quarter of the year.

Previous quarterly releases for 2013 included N400 billion for the first quarter; N200 billion for the second quarter and N250 billion for the third quarter.

Further breakdown given by the statement showed that N598.4 billion of the capital budget or 72.3 per cent had been utilized as at the end of the third quarter of 2013.

A balance of N229.6 billion unspent by various MDAs, the ministry noted, remained at the Central Bank of Nigeria (CBN).

The ministry however clarified that the N160 billion released for the fourth quarter would bring total balance spent to N450 billion.