Nigeria Considers Reduction of Costs, Merge MDAs amid Shortfall in Revenue.
In the just concluded week, the Federal
Government as part of measures to reduce cost of governance amid its dwindling revenue, announced plans to reduce payrolls, cut down recurring project costs and merge some of its Ministries, Departments and Agencies (MDAs).
According to the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, the President stated that the Salaries Committee should work together with the Head of Service to review salaries and pay roll of federal institutions in order to step down on cost. She stated that FG would also review the mandates of some of its Agencies and Ministries with similar functions
Nigeria: Neca Calls for Adherence to Pension Reforms Act allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.
Chris Uba
The Nigeria Employer’s Consultative Association (NECA) has stated its position regarding the controversy surrounding the move by state governments to borrow from the Pension Fund Assets (PFAs) for infrastructure development, calling for adherence to the provisions of the Pension Reforms Act.
The Nigeria Governors’ Forum (NGF) was reportedly planning to borrow the sum of N17 trillion from the pension fund for infrastructural development.
Reacting to the controversies trailing the plan, the Director General of NECA, Timothy Olawale, who spoke in Lagos, said, “the issue of investment and borrowing from the Pension Fund Asset has remained contentious and vexatious to many stakeholders.”
Nigeria: PFAs Can Invest N2 4 Trillion in Infrastructure Funds, Bonds - Pencom allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.