Presidency: Buhari to Spend Saved N3 Trillion on Projects

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President Muhammadu Buhari
  • To release money in weeks to cushion economic hardship’
  • Titi Abubakar: we’ve to endure the hardship

Paul Obi in Abuja

Following the growing concern over economic hardship in the country, the Presidency on Monday said President Muhammadu Buhari is expected to spend about N3 trillion saved through the Treasury Single Account (TSA) on projects to cushion economic hardship in the country in the coming weeks.

Senior Special Assistant to the president, Garba Shehu, told journalists in Abuja that the president aims to introduce various interventions that will bolster the economy, thereby enhancing spending and investment in the economy.

Shehu spoke at the sideline of the child’s dedication of Head of Media, Atiku Media Office (AMO), Paul Ibe. According to Shehu, the coming months will witness robust investment in infrastructure, targeting critical sectors of the economy.

While urging Nigerians to “be patient”, he told journalist that “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 further explained that the current approach of the administration on contracts will be beneficial to contractors as opposed to previous governments. He said: “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,” he added.

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  • Adam A

    Ya majority of Nigerians believe in PMB! He will deliver by God’s grace

    • vic

      yet to be seen considering that for the past 10 months buhari remained a complete deadwood.

      • manasseh

        deadwood but the scare of bombs is no more. 4 year mandate is not 10 months

        • vic

          at least you agree he is deadwood.

    • vic

      no, you are misinformed, read these columns and elsewhere in newspapers, buhari is in big trouble with a vast majority of nigerians.

  • shakara123

    We shall see.

  • vic

    THIS DAURA FOOL SHOULD FIRST CLEAR ALL OUTSTANDING PENSION ARREARS OF ALL PENSIONERS TO BOOST SPENDING AND PUMP MONEY INTO THE ECONOMY.

  • vic

    SO MR DOLLAR CHOPPER, SHEHU, LET THE BUDGET BE SIGNED IN A “SHORT WHILE”, AS YOU SAY, SO THAT LIFE CAN “GET ON” FOR NIGERIANS TO BE “HAPPY AGAIN”.

    WELL DONE, SHEHU OR WHATEVER YOUR NAME IS, GOOD PROPAGANDA IN THE RIGHTFUL SPIRIT OF MR LIE MOHAMMED, FROM THE MINISTRY OF LIES AND MISINFORMATION.

  • Toby

    I thought we were told that Jonathan bankrupt the nation and there was no money?