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Vice President Yemi Osinbajo hinted yesterday that the federal government spent N1.three trillion on capital projects from the 2016 spending budget appropriation.


Speaking at the2017 Nigerian Bar Association (NBA) national conference in Lagos, Osinbajo noted that the figure was the highest sum spent on infrastructure in the history of the country.


"The federal government spent about N1.three trillion on capital projects in 2016, the highest in the history of the country", the vice president said, adding that beyond the substantial spending on capital project in the previous year, "power sector reform is also ongoing as it is 1 of the most vital sectors in the country".


Speaking at a forum with the sub-title, "Conversations with the Vice-President", moderated by Zain Asher, a CNN news anchor, Osinbajo enthused that the All Progressives Congress-led administration had set a strong foundation for the nation’s economic recovery, which he described, as the most vital reform of the administration.


He said the federal government was "dealing with a mono-economy (relying on one particular significant export or organic resource) and a monetary market that was basically opaque.


"We have set a foundation of rebuilding the economy, developing the Single Treasury Account (TSA), monitoring government’s spending, modifying the tax technique to be additional efficient and implementing executive orders", he stated.


The vice president also noted that the quantity spent on capital projects from the 2016 spending budget was a bit unique from that of the minister of Finance, Mrs. Kemi Adeosun, assuring that the administration will continue to prioritize infrastructure spending.