Capital projects are long-term, capital-intensive investment project with a purpose to build upon, add to, or improve a capital asset. Capital projects are defined by their large scale and large cost relative to other investments that involve less planning and resources. As this definition implies, it means that capital projects execution and completion are the bedrocks of developed societies of the world as such they are to be observed as paramount.
This the Nigerian House of Representatives deemed fit to allow this bill to scale through the first and second reading. This bill when become law will allow the allocation of 40 percent of the country’s annual budget to capital projects in Nigeria.
This is a Bill seeking to provide 40 per cent of the country’s annual budget for capital projects in the next 10 years.
The Speaker, Hon. Femi Gbajabiamila, who sponsored the Bill, described it as an economic stimulus Bill.
Speaking at the plenary Wednesday, he said that the reason why there were abandoned projects all over the country was as a result of the paltry sum allocated to capital projects.