Sunday, February 5, 2023

FG Bans Non-Critical And Administrative Capital Spending

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As part of plans to lift the country out of poverty, the Federal Government (FG) has banned non-critical and administrative capital spending, including the purchase of vehicles.

President Buhari and AdesinaThis was disclosed in a document titled  “What you need to know about the Nigeria Economic Sustainability Plan”, where Special Adviser, Media and Publicity to Buhari, Femi Adesina highlights eight key interventions contained in the sustainability report.

“The president has approved the implementation of the Report on the Rationalization of government agencies. The NESP will also target a reduction in average production costs of crude oil. Also, the Integrated Personnel and Payment Information System (IPPIS) will be expanded to cover all Federal Government MDAs.

“Non-critical and administrative capital spending will be eliminated, including purchase of vehicles (except for ambulances, fire-fighting vehicles and other essentials).Femi Adesina“The implementation of the NESP will see an increase in the number of cash transfer beneficiaries, N-Power volunteers and sundry traders enjoying small and micro loans through the MarketMoni and TraderMoni schemes.

“The pre-existing conditional cash transfer will also be extended to cover a larger number of extremely poor and vulnerable Nigerians.

Read more: Lagos, Abuja Airports To Run Dry Test Tomorrow – FG

Also Read:  'I'm Not Lazy Like Your Sisters Waiting On A Rich Man's Money' - Nkechi Blessing Fumes

“It also provides for the negotiation of suspension of ISPO payments by States, moratorium on deductions in respect of bailout loans, and encourages States to attain the conditions outlined by SIFTAS and other World Bank programmes, in order to access external support.

“The ESC will also monitor implementation of the Plan while the Vice President will regularly brief the President on progress made,” the statement by the FG reads.Femi Adesina FGPhoto Credit: Twitter

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