FG To Save N5bn On Foreign Trip Ban –Presidency

Posted by African Examiner Featured, Latest Headlines, News, News Across Nigeria Friday, March 22nd, 2024

(AFRICAN EXAMINER) – The Presidency on Friday stated that President Bola Tinubu-led Federal government would save N5 billion quarterly after the government placed a ban on foreign trips for ministers, chiefs of government agencies, and other official travels paid with public funds

Tinubu’s Special Adviser on Media and Publicity, Ajuri Ngelale, stated this while addressing State House Correspondents on Friday at the Presidential Villa in Abuja.

It could be recalled that President Tinubu had recently implemented a significant ban on foreign trips funded with public money for ministers, heads of government agencies, and other government officials in Nigeria.

A three-month ban, effective from April 1, 2024, is part of plans by the government to reduce the spending of the government.

However, Ngelale stated that Tinubu “aims to generate significant savings for the government while demonstrating his commitment to fiscal prudence and prioritizing service delivery over excessive expenditures”.

According to Ngelale, President Tinubu by urging the people to buy products made in Nigeria and patronise Nigerian services is to bolster the growth of the economy and make the Naira valuable.

He also stated that President Tinubu is also “taking action against fraud in cryptocurrency trading and the foreign exchange market, urging people to report any illegal activities”.

He also disclosed that the decision to “deal decisively with cryptocurrency trading platforms and with the sharp practices within the parallel market of the foreign exchange ecosystem are now yielding fruit”.