The federal government of Nigeria has banned non-critical and managerial capital spending, including the purchase of vehicles as part of its plan to cut down the cost of authority.
In a paper titled “What you need to know about the Nigeria Economic Sustainability Plan”, Femi Adeshina listed eight key interventions comprised in the sustainability document. He also divulged that the NESP is seeking to expand the social investment programmes (SIPs).
The document which was formulated to aid the economy in the face of the upheavals and challenges of the COVID-19pandemic which has caused both small, medium and big companies to go on lockdown resulting to a downward trend of the economy, was developed by the Economic Sustainability Committee (ESC) chaired by Vice-President Yemi Osinbajo and set up by President Muhammadu Buhari earlier in March.
Making further clarification on the prohibition, Adesina said ambulances, fire-fighting vehicles and other essentials were exempted from the ban on the purchase of vehicles but no more buying of SUV for a governor or minister, spending almost billion every election period to get cars for newly elected at this current situation of pandemic every country cut down the expense they are taking even closing of the border is still affecting most Nigerian as the price of food continues to rise.
According to Adesina when he was speaking to the members of the committees, he said
“President Muhammad Buhari has since authorized the implementation of the Report on the Rationalization of government agencies. The NESP will also target a contraction in average production costs of crude oil. Also, the Integrated Personnel and Payment Information System (IPPIS) will be expanded to cover all Federal Government MDAs.
“Non-critical and administrative capital spending will be eliminated, including the purchase of vehicles (except for ambulances, fire-fighting vehicles and other essentials).
“The implementation of the NESP will see an increase in the number of cash transfer beneficiaries, N-Power volunteers and sundry traders enjoying small and microloans through the MarketMoni and TraderMoni schemes.
“The pre-existing conditional cash transfer will also be extended to cover a larger number of extremely poor and vulnerable Nigerians this could help to lessen the worry and troubles and fear the citizen go through to get food for their family, would they go ahead with the plans. many promises have been made by the administration to help with palliative yet they have received none, they give claimed they have given out money to most Nigerians to help with the hardship but so far only non-governmental organizations have been on the helping side.
“It also provides for the negotiation of suspension of ISPO fees by States, a moratorium on deductions in respect of bailout loans, and encourages States to attain the conditions outlined by SIFTAS and other World Bank programmes, in order to access external support. Grant has also been given to Nigeria by various countries and we are yet to see anything.
“The ESC will also regulate the implementation of the Plan while the Vice President will regularly brief the President on progress made.”Click To Claim Your Point