The Minister of Finance, Kemi Adeosun has made it known that the Federal government will not be able to finance all projects in the 2016 budget because of dearth of fund.

The Minister of Finance, Kemi Adeosun has made it known that the Federal government will not be able to finance all projects in the 2016 budget because of dearth of fund.

The Minister of Finance, Kemi Adeosun has made it known that the Federal government will not be able to finance all projects in the 2016 budget because of dearth of fund.

 She advised the heads of ministers, department and agencies; MDA’s not to lobby for any release of funds in their different sectors. She added that its only projects that are of paramount importance that can receive funds.

According to her, “So, what we are now doing is project first. Tell us what you are going to do with the money, give us your milestones. I can’t promise you that every single agency will receive every single Naira in the budget; that will be untrue and that will be a misleading impression.

“However, what I will assure is that there will be no favoritism, there will be no need for anybody to come and lobby in our office for the release of funds. Funds will be released first on priority of projects, MDAs must make request for the capital and we must measure how the capital is spent.”

Speaking about the increment of the minimum wage, she opined that opined that the problem is not in the increment of minimum wage but in the cost and standard of living. .

“What we have to address is the cost of living and this government is addressing cost of living because it is investing in the things that make cost of living very high for the people, such as power cost, transport cost, people spending hours on bad roads, it is being addressed, that is a cost.”

 

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