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LequteMan
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The Federal government of Nigeria in a bid to cushion the global fall in oil price will embark on Austerity measures which will involve Nigerians paying tax on luxury goods, a reduction in public expenditures and international travels by public servants, among others, Minister of Finance, Ngozi Okonjo-Iweala announced yesterday.
Excerpt from Punch:
She however, assured that the Jonathan Economic Management Team was “on top of the situation” to proffer measures that would help to ensure that the “common man” did not feel the impact of the oil price decline.
The minister stressed that even though the drop in oil prices was a serious challenge, it was also an opportunity for the country to refocus efforts towards the non-oil sectors in preparation for a future with less oil revenue.
As part of the efforts to reduce expenditure, she said international travel within the public service would be severely curtailed, adding however, that critical infrastructure projects would not be affected because they were key to economic growth, development and job creation.
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#Nigeria
Excerpt from Punch:
She however, assured that the Jonathan Economic Management Team was “on top of the situation” to proffer measures that would help to ensure that the “common man” did not feel the impact of the oil price decline.
The minister stressed that even though the drop in oil prices was a serious challenge, it was also an opportunity for the country to refocus efforts towards the non-oil sectors in preparation for a future with less oil revenue.
As part of the efforts to reduce expenditure, she said international travel within the public service would be severely curtailed, adding however, that critical infrastructure projects would not be affected because they were key to economic growth, development and job creation.
click here to read more
#Nigeria
