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Fed. Govt set to Inject N350 Billion to Revive Economy. cc @DrJoeAbah
Finance Minister, Kemi Adeosun
The Federal Government will inject N350 billion into the economy, Finance Minister Kemi Adeosun said on Tuesday, March 22nd.
"From the Federal Ministry of Finance in anticipation of the approval of the budget, we have virtually lined up about N350 billion which we would be pumping into the Nigerian economy in the forth coming months. We explained our rational and the processes that we have put in place, safe guards to ensure that this money actually achieves the desired objective which is to stimulate the economy." She announced whilst addressing State House correspondents at the conclusion of the two-day retreat of the National Economic Council (NEC).
According to her, part of the money will help offset the debt owed local contractors, who had laid off their workers for lack of funds.
The minister added that the state governors were also advised to reduce the number of political appointees and aides as a way of reducing the cost of governance.
She said: "State governors were encouraged, where possible, to rationalise numbers of commissioners and general political appointees and, in addition, cost control measures to be identified and implemented on an on-going basis and there was a sharing of best practices from a number of states that could be applied elsewhere. - VANGUARD