The Minister of Finance, Kemi Adeosun has said that the biggest problem facing Nigerians now is the high cost of living, especially on things that the government should be doing such as roads and power.
To combat this, she said the FG has concluded plans to back up its initial response to shorten the duration of the r=economic recession in the country.
She said although no specific date can be pointed to now, there were indications to show that the recession would not be prolonged.
Speaking on the FG’s efforts so far, she said that the priority areas were Power, Works, Housing, Defence, Agriculture, Water Resources and Solid Minerals.
She claimed that over N420 billion had already been released and cash backed since May to these areas and a further N350 billion will soon be released to further development in these areas. Part of this new release would go into the school feeding program and N-power teacher corps which according to her will ‘put money into people’s pockets.’
“The school feeding programme and the N-Power teachers’ corps we will cash back today as part of the N350 billion additional release which would take our total capital spending to about N700 billion.’’
Further explaining the FG’s plan, she said that a N50 billion loan to states who could not afford to pay salaries was on in addition to recruitment into government agencies.
Part of this article appeared in Vanguard Newspapers
