iii. iv. v. vi. vii. More than N800bn has been released for capital expenditure in the 2016 budget, since implementation started in June 2016. This is the largest ever capital spending within a single budget year in the history of Nigeria. These monies have enabled the resumption of work on several stalled road, rail and electric power projects nationwide. Under the new Social Housing Scheme launched in 2016, the Family Homes Fund will take off with N100billion naira provision in the 2017 budget. The rest of the funding will come from the private sector. The Federal integrated Staff Housing (FISH) Scheme is a strategic initiative designed purposely as an intervention project for massive housing delivery to federal civil servants and is in partnership with the relevant Ministries, Departments and Agencies. Allocations of about 1,500 houses have commenced on first come first serve basis, at different locations in Abuja and Lagos. Over 23,000 federal workers have registered as members of the FISH programme. The first phase of the mass housing scheme would go to the first batch of 16,000 federal civil servants. Though the Contributory Pension Scheme (CPS) had witnessed sustained growth in 12 years, millions of Nigerians are yet to key in. about 6.3 million retirement Savings Account (RSAs) holders are just about 10% of the 60 million labour force in the country, indicating that the market penetration of CPS is still not enough. Addressing the over 70% of the country’s working population are in the untapped informal sector by any structured pension scheme, the government has launched the Micro Pension Scheme. Its target is self-employed citizens, especially those with irregular income, largely financially uninformed, with limited or no access to financial services, especially pension plan. This is expected to boost the pension contributions to 20 million Nigerians by 2019 and 30 million by 2024. The most critical challenge of the implementation of the CPS in Nigeria is the nonpayment of retirement benefits of federal government employees who retired in 2016 due to insufficient budget appropriation and late release of appropriated funds for payment of accrued pension rights. 127