Nigeria: Federal Government cuts non-critical spending, stops the purchase of vehicles. | AfriTV Online

The Nigerian Federal Government says it is cutting what it named as non-critical and administrative capital spending, after approving a N2.3 trillion Nigeria Economic Sustainability Plan.Disclosing this today at the end of the convergence of the Federa...

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Nigeria: Federal Government cuts non-critical spending, stops the purchase of vehicles.

Published by: Tobillionaire
06/25/2020 07:40 PM

The Nigerian Federal Government says it is cutting what it named as non-critical and administrative capital spending, after approving a N2.3 trillion Nigeria Economic Sustainability Plan.

Disclosing this today at the end of the convergence of the Federal Executive Council, Femi Adesina, the Special Adviser to the President on Media and Publicity. While addressing this development, Femi Adesina said the trim on non-critical and administrative capital spending includes the purchase of vehicles as a way of cutting non-essential spending, and that only fire-fighting vehicles, ambulances and related essentials have been exempted from the vehicles purchase ban. According to him, this is being put in place in order to support Nigeria’s economy in the face of the disruptions and difficult times brought by the COVID-19 pandemic.

The plan being put in place will be monitored by the Economic Sustainability Committee which is chaired by Nigeria’s Vice-President Yemi Osinbajo, and will regularly report to the President the progress it makes during its course.

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