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BUDGET 2020: Nigerian govt suspends employment as survival strategy

Minister-of-Finance-Zainab-Ahmed

Nigeria’s Minister of Finance, Mrs Zainab Ahmed on Thursday said the Federal Government would suspend employment as a means to sustain the 2020 budget.

She also noted that excessive spending would also be avoided by the Federal Government.

Ahmed spoke during a meeting with the Senate Committee on Appropriation on how the 2020 budget to be presented by President Muhammadu Buhari would be financed.

The finance Minister who appeared before the Senate Committee with top officials of the Ministry, also explained that measures were being taken by government to ensure 95 percent implementation of the 2020 budget in the interest of the nation.

She gave the assurance that the Executive would raise funds for the implementation of the budget.

According to her, government would sustain Social Reinvestment programme in order to bridge poverty gap of the people.
She also revealed that about N80 billion had been earmarked.

“The Federal has earmarked the sum of N80 billion in order to continue the Social Reinvestment Programme in 2020 budget.

Read also: BUSINESS REVIEW: Here is why Nigeria after 59 yrs of independence still largely depends on borrowing

“We are taking steps by way of placing embargo on employment with exception to Military and Paramilitary as part of measures to tackle the current paucity of funds.

“The Federal government would avoid excessive spending particularly in those areas that are not captured in the budget.”

Meanwhile, earlier in his remarks, Senate Committee Chairman on Appropriation, Senator Jibrin Barau sought to know the FG’s measures for adequate funding of the 2020 budget.

“What we are here for today is to know the measures the executive has put in place to adequately fund the expected 2020 budget,” he said.

Members of the Committee, Senators Sankara Abdullahi (Jigawa North West), Abba Moro (Benue South) insisted that some leakages in the revenue generation agencies must be blocked in order to generate revenues for government.

President Muhammadu Buhari was expected to present the 2020 appropriations to the joint session of the National Assembly next week Tuesday.

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