News

NIGERIA IS BROKE AND CAN’T FUND 2023 CAPITAL PROJECTS _ FG


The Minister of Labour and Employment, Dr. Chris Ngige, says Nigeria is br%ke and can’t afford to fund capital projects next year, a development which might worsen unemployment and poverty.
.
.
The Minister said this during a media briefing in Abuja, on Thursday, July 28.
.
.
According to him, “I can tell you that Nigeria is br%ke. There is no money to fund capital projects next year. As you can see, the dollar that has been hovering around N500 and N600 is now above N700.
.
.
The truth is that there is no money anywhere. The money that the FAAC (Federation Account Allocation Committee) has been sharing is money from taxes, customs and other revenue-generating agencies.
.
.
The National Nigerian Petroleum Company Limited (NNPC) no longer remits money to FAAC. So, the situation calls for patriotism from all Nigerians. The lack of money to fund capital projects would have implication on capacity to create jobs.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s