Nigeria can save $5bn annually – Adeosun


Nigeria Finance Minister, Kemi Adeosun has stated that Nigeria can save up to $5 billion annually by bringing the regime of waste in more than 450 government agencies to a thing of the past, a strategy that will determine how well Nigerian economy weathers its slowest growth spell since 1999.

Adeosun also revealed plans on how Nigeria intend to navigate a fall in oil prices that has plagued oil producing nations globally.

According to Adeosun, Nigeria’s government revenue has fallen by about 60% from the height of the oil boom more than a year ago.

To make up for those lost funds, the finance manager promised she would scrutinize the prices government agencies pay for plane tickets, office supplies and other items.

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Next year’s budget will also include caps on increases to government workers’ salaries, she said.
“We’re trying to rein everybody in,”

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Ms. Adeosun, said “I don’t expect anybody to like it, but I also expect people to understand that where we find ourselves, there’s no choice.”

Until Adeosun’s  appointment as the Minister for Finance, she was the was the finance commissioner for Ogun State.

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