MILITARY RECEIVED N130b IN THREE MONTHS – OKONJO-IWEALA

Dr. Ngozi Okonjo-Iweala, the Minister of Finance and Coordinating Minister for the Economy, has denied claims by security agencies claiming that poor funding was undermining the fight against terrorism.

Okonjo-Iweala said this while briefing journalists on the breakdown of the N4.964 trillion budget signed by the President.

She said that the Federal Government has been providing the needed funds to prosecute the war.

She stated “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 decor takes almost a trillion of the budget.”

According to Okonjo-Iweala, the Defence budget in 2014 is about N968.127 billion and N130.7 billion has been disbursed between January and April 2014, with 85.9 billion being personnel cost.