N3trn Savings From Tsa To Be Spent On Projects To Lessen Economic Hardship – Presidency

SAN FRANCISCO, March 28, (THEWILL) –   T he Presidency has revealed that the Muhammadu Buhari-led government will in the coming weeks spend the over N3 trillion saved through the Treasury Single Account, TSA, on projects as a way of cushioning the economic hardship currently faced by Nigerians.

Disclosing this to journalists in Abuja on Sunday, the Senior Special Assistant to the President on Media and Publicity, Garba Shehu said the President aims at introducing various interventions that will bolster the economy, thereby enhancing spending and investment in the economy.

While insisting that the coming months will witness robust investment in infrastructure, targeting critical sectors of the economy, he told Nigerians to “be patient” as “this president has more money in Central Bank today that he can spend than any other president in this country. He has more than N3 trillion that he saved from TSA. You know that 2014 and 2015, if you look at the entire budget of the Jonathan government, it was not more than N4 trillion each year.

“In 2016, you have N3 trillion, money set aside to be spent on projects, not salaries and overheads. So in a matter of time, this country will be flooded with money, because, projects would come and quite unlike what we have in the past. It's not that they will give you contract and you go and hand yourself,” the presidential spokesman said.

Shehu, who noted that the current approach of the administration on contracts will be beneficial to contractors as opposed to previous governments, assured that “Government will give jobs and will back it with money. So, Nigerians will be happy again. In a short while, let the budget be signed and life will get on.”