How FG Saves N1.4billion daily from regulation.

The federal government yesterday, said the country was saving $4.5billion (N1.395billion) daily from the deregulation of petroleum products. Minister of state for budget and national planning, Mrs zainab Ahmed disclosed this during the second presidential Economic communication workshop organized by office of vice president in Abuja. The minister said."the deregulation of premium motor spirit,pms,is part of the critical measure introduced by the presidency to aid economic recovery and guarantee diversification, adding that the action help reduce the importation of pms which consume $7.9 billion about 30 percent of the country's foreign exchange in 2015. She further said that the deregulation policy had brought about a 50 percent reduction in
the daily truck_ out from loading depots. Average daily truck- out reduced from 1,005, prior to deregulation period to 542 for the period after deregulation, she said.
In addition N117 billion was released for statutory transfer;N142 billion for consolidated pensions, N1.2 billion for personnel and ñ135 billion for service wide.

Share on Google Plus

About Jane Omarose