Specifically, the meeting was said to have resolved that projects, such as the N6.9 billon Abuja Airport rehabilitation which was provided for in the 2017 budget, should be captured in the capital aspect of the budget.
Browsing: Mrs. Kemi Adeosun
“Nigeria is implementing an ambitious economic reform agenda designed to deliver long-term sustainable growth and reduce reliance on oil and gas revenues while reducing waste and improving the efficiency of government expenditure,” Adeosun said of the bond.
The Notes were approximately 8 times oversubscribed with orders in excess of 7.8 billion dollars compared to a pre-issuance target of one billion dollars demonstrating strong market appetite for Nigeria.
“The stakeholders strongly opposed the peddling of refined petroleum products across the Nigerian borders to neighbouring countries and would therefore apply strict sanctions against any member of the oil marketing associations found culpable in this regard.”
“As leaders of the association, we feel it is necessary to tell our members the truth as the government has no plan to increase fuel price for now. The rumour is a lie and anything you hear that is not from us, ignore it.”
“In reality, the Naira should not be affected more than the N305,” she argued, explaining that this was so because the CBN had put in place measures to stimulate more supply of dollars to deal with its shortage in the market.”
State governments that fail to implement the action plans, as stated, would be taken off the facility with immediate effect.
The Central Bank “has been directed to do this and CBN has promised to do something by putting a system in place to eliminate the black market because it’s damaging the economy,” Adeosun told a conference.
The minister said a recovery committee chaired by the Accountant General of Federation, Ahmed Idris, has since been constituted to recover the outstanding N450 billion operating surpluses, including holding bilateral discussions with the affected agencies.
“The minister added that these financial abuses have been going on for a decade, whereby the agencies hide revenues that ought to go into the Federation Account,” Obiano said.
