FEDERAL GOVERNMENT SET TO PUMP N60 BILLION INTO THE ECONOMY – KEMI ADEOSUN
Minister of Finance Kemi Adeosun says that the Federal Government of Nigeria is set to pump a reported N60 billion into the economy for capital projects in a bid to stimulate the ailing economy.
The minister was at an interactive session with newsmen yesterday 19 August when she disclosed this information.
This she said will bring the total of funds raised by the government to about N400 billion since the turn of May.
Adeosun stated that very soon, Nigerians will begin to see the effect of the policies that have been put in place by this administration.
She reiterated the president’s stance that fighting corruption is instrumental to this administrations success and she stated that if that mantra is stuck to, then all the moneys recovered from the drive will be directed at projects that could grow the economy and thereby help the economy recover.
She also expressed optimism in the area of agriculture as states known for their agricultural production are going back to it thereby generating revenue from it.
She also stated that storage facilities are being built to ensure that when crops are harvested, they would not be lost.
Furthermore, she talked about the dicey issue of taxing of luxury items stating that the intention to tax them is not a policy since there is no constitutional provision at this time.
A system has been put in place to overhaul the whole tax system in the country she said, to enable for better record keeping and accountability.