The Nigerian Federal Government says it has cut funding for purchase of non-essential official vehicles by government officials as a measure to reduce the running costs of governance.
According to the FG, this is part of its plan to cut down non critical and administrative capital spending as contained in the Nigeria Economic Sustainability Plan (NESP).
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According to Presidential spokesperson, Femi Adesina, the NESP is the outcome of a committee chaired by vice President Yemi Osinbajo.
He also said the economic sustainability programme will expand the social investment programmes (SIP) currently being carried out by the FG.
“The president has approved the implementation of the Report on the Rationalization of government agencies. The NESP will also target a reduction 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 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 micro loans 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.”
Adesina clarified further that the NESP will give an avenue for state governments to collaborate with the Federal Government on affordable housing, Agriculture and off-grid power projects.
“It also provides for the negotiation of suspension of ISPO payments by States, 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,” he said.
“The ESC will also monitor implementation of the Plan while the Vice President will regularly brief the President on progress made.”
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