Globally renowned Nigerian economist and Nigeria's Finance Minister, Ngozi Okonjo-Iweala while presenting
the 2014 budget signed last week by President
Goodluck Jonathan to newsmen, the Coordinating Minister of the Economy revealed
that the Nigerian military has received N130.7billion from the Federal
Government from January to April 2014 and that another N3.8b has been approved
by the president but was still being processed and will soon be released to the
military.
She revealed this to deny claims by the Nigerian military
and other security agencies that poor funding was undermining ongoing war
against terrorism. Defending the huge amount being spent in the military, Dr
Okonjo-Iweala said;
"Defence spending
is top in everything. You know that military establishments need new things to
assist them in their work, and ours will not be different. No budget will be
enough to meet their demands but for now, I think the sector takes almost a
trillion of the budget.”
"The defence
budget in 2014 is about N968.127 billion and we have disbursed N130.7 billion
between January and April 2014, N85.9billion out of what has been disbursed is
for personnel cost.
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