The Federal Government, in a bid to attain robust external reserves, is planning to increase the amount in the Excess Crude Account from the current balance of $2.25bn to $3.95bn next year.
It is also targeting fresh private sector investment of $1.5bn (N315.2bn) in infrastructure within the 2016 fiscal period. These figures are contained in the Medium Term Plan 2016-2020 prepared by the National Planning Commission and submitted to Ministries, Departments and Agencies (MDAs) of government for validation.
The monetary estimates for the 2016 budget are still being worked out by the respective MDAs and may be ready by mid-November, according to the timeline stipulated in the document.
