The federal government has banned what it described as non-critical and administrative capital spending, including the purchase of vehicles.
Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, in a document tagged, “What you need to know about the Nigeria Economic Sustainability Plan” made available to journalists yesterday in Abuja, listed eight key interventions contained in the sustainability report.
The plan was developed by the Economic Sustainability Committee (ESC) chaired by Vice-President Yemi Osinbajo and set up by President Muhammadu Buhari earlier in March.
The document was designed to support the economy in the face of the disruptions and challenges of the COVID-19 pandemic.
Adesina listed the eight key interventions to include mass agricultural programme, infrastructure, informal sector support, business support for MSMEs, technology, expansion of National Social Investment Programmes, cut in non-essential spending and support for state governments.
As part of ways to cut non-essential spending, Adesina said only ambulances, fire-fighting vehicles and other essentials were exempted from the ban on the purchase of vehicles.
He said: “The president has approved the implementation of the report on the rationalisation 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’s MDAs.
“Non-critical and administrative capital spending will be eliminated, including purchase of vehicles (except for ambulances, fire-fighting vehicles and other essentials).”
The presidential spokesman stated that the Economic Sustainability Committee would monitor the implementation of the plan with the vice president regularly briefing the president on the issue.
Source: thisdaylive
