FG saved N120bn through detection of ghost workers in MDAs, says Okonjo-Iweala

The Co-ordinating Minister for the Economy and Minister of Finance, Dr Ngozi Okonjo-Iweala, said Tuesday that the Federal Government had saved N120 billion through  detection of ghost workers in the various government Ministries, Departments and Agencies (MDAs).

According to the minister,  the figure is N20 billion higher than the N100 billion earlier discovered by the government in February 2013.

Speaking at FBN Capital Third Annual Investors Conference held in Lagos, she said that government would continue to plug the leakages in the economy to reduce recurrent expenditure and promote development of infrastructure.

'The major problem that distorted current expenditure in the country was the across-the-board increase in salary in 2010,' she said.

Okonjo-Iweala, who spoke on the theme: '2014 and beyond: Managing Growth Prospects and Challenges,' said the  government was working to further reduce its recurrent expenditure in 2014 budget.

She promised that the  government would continue with its fiscal consolidation to increase job creation and provision of the necessary social amenities.

Okonjo-Iweala reiterated the plan by the government to rebase  the nation's Gross Domestic Product (GDP) to reflect the growth recorded by various sectors of the economy.

According to her,  the GDP growth of 10 per cent will remain government's target in the years ahead.

Also speaking at the event, Minister of Trade and Investment, Mr Olusegun Aganga,  also said that the  government would ensure  investor-friendly reforms to encourage Foreign Direct Investment (FDI) in-flows.

Aganga spoke on the theme: 'FDI Flows- Enhancing Nigeria's Positioning and Competitiveness.'

The minister said that government would ensure inclusive growth of all sectors to reduce dependence on oil.

He said that government would concentrate on areas with competitive and comparative advantage to sustain growth, especially in agriculture development.