President Muhammadu Buhari
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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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