Tag Archives: Inadequate

Recovered Loot Inadequate To Revive Economy– Minister

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The Minister of Information and Culture, Alhaji Lai Mohammed has explained that the looted fund recovered so far by government is far cry from what the country needs to revive the economy.

The minister said this on Friday when he appeared on a News Agency of Nigeria (NAN) Forum in Abuja.

According to him, the amount of money recovered is always being made public. “What we have recovered and if my record is right is about N78 billion, and 3 million dollars.

“We have been able to block various accounts in which about 9 billion dollar is found but those are not money available to us because we are still in court over them.

“The government spends N165 billion every month to pay federal civil servants, even what has been so far recovered will not even pay 50 per cent of the salaries in a month.’’

Mohammed assured Nigerians that every penny recovered will be judiciously spent and nobody could re-loot what had been recovered under the administration.

The minister further explained that Nigerians should understand that what had been recovered was so little compared to what the people needed on a continuous basis.

On budget release, he recalled that the Federal Ministry of Finance released N400 billion for capital projects, mostly on roads, railway, and power.

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http://guardian.ng/news/recovered-loot-inadequate-to-revive-economy-minister/

N35.6bn Inadequate For National Housing– Fashola

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Minister of Works, Power and Housing, Babatunde Fashola, yesterday faulted the N35.6bn provided for the National Housing Programme in the 2016 budget.
He spoke  during an interactive session with members of the House of Representatives Committee on Housing chaired by Rep Mustapha Bala Dawaki (APC, Kano). Fashola said the amount would “not even scratch the country’s housing deficit in the back”.

He said: “When the housing programme takes off properly, we’ll be talking about hundreds of billions and even trillions. Let’s look at the N35.6bn as a way of implementing the concept, then we should have massive funds for the whole programme.”
Also  the director of architectural services in the ministry, Arch Sani Gidado, said they were ready for the implementation of the programme nationwide, but that only 17 states had provided lands for the programme, while two had indicated interest.
But members of the committee picked holes in the inability of the department to come up with proper designs almost six months into the year, calling for equal spread of houses among the states.
Credit: DailyTrust