Nigeria’s Finance Ministry has released N200 billion capital for the second quarter of 2013, the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, announced today.

“This,” said her Special Adviser, Paul C Nwabuikwu, “will ensure further progress in the execution of capital projects captured in Budget 2013.”

He disclosed that out of the N400 billion released as capital for first quarter 2013, of which N335 billion has been cash-backed, “of the cash-backed portion, 65% has been utilised so far.”

Nwabuikwu in a statement released in Abuja, the Nigerian capital, also disclosed that the ministry has paid a total of N72.7 billion to the Federal Ministry of Power so far this year to cover various items in line with the implementation of the Power Roadmap.

“The amount includes the sum of N45 billion paid to PHCN workers as part of the power privatisation programme,” he said, adding: “It also includes the sum of N5 billion paid for the Multi Year Tariff Order (MYTO).”

Other beneficiaries, according to Nwabuikwu, include the Power Ministry headquarters, Power Holding Company of Nigeria, National Rural Electrification Agency, National Electricity Regulatory Commission, National Power Training Institute, National Electricity Liability Management Limited/GTE (NELMCO) and Bulk Trader.

“A breakdown of the figures shows that N59,089,522,721 billion was paid in the first quarter while N13,733,822,832 has been paid so far in the second quarter,” he stated.

•Photo shows Okonjo-Iweala.