Bloomberg News

Nigeria’s Budget for Capital Isn’t Enough, Okonjo-Iweala Says

July 06, 2011

July 6 (Bloomberg) -- Nigeria’s 2011 spending plans allocate “almost 74 percent” to recurrent expenditure, leaving the share for capital investment inadequate, Cabinet nominee and managing director of the World Bank, Ngozi Okonjo-Iweala, said at a Senate confirmation hearing today in the capital, Abuja.

“We need to make sure the recurrent doesn’t eat up everything in the budget,” she said.

To contact the editor responsible for this story: Dulue Mbachu at dmbachu@bloomberg.net


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