KOB NEWS: Finance Minister Briefs Senate, Says Nigeria Can’t Afford to Rely on Oil

ABUJA- MINISTER of Finance, Mrs. Kemi Adeosun is presently briefing the Senate, saying that Nigeria as a country cannot afford to rely on oil. 

The Minister who is still speaking, started at 12. 05 said that President Muhammadu Buhari’s government inherited salaries and wages of N169 billion and now reduced to N159 billion. 

According to her, a total of N247.7 billion has so been released as capital expenditure, with plans to release N70 billion very soon, adding that the government will continue to release as soon as the nation’s stimulus improves. 

The minister told the Senate that all the releases are cash backed as a priority of government. 

Senators are at the moment asking her questions.