2016 Budget Will Reflate The Economy, Says Mohammed

Lagos – The Minister of Information and Culture, Alhaji Lai Mohammed, says the economy will be reflated with the 2016 budget. The miinister made the promise on Friday in Lagos when he paid a working visit to the headquarters of the Guardian Newspapers. The minister was received by the Executive Director of the Newspaper, Toke

Read more at: http://www.vanguardngr.com/category/national-news/

Lagos – The Minister of Information and Culture, Alhaji Lai Mohammed, says the economy will be reflated with the 2016 budget. The miinister made the promise on Friday in Lagos when he paid a working visit to the headquarters of the Guardian Newspapers. The minister was received by the Executive Director of the Newspaper, Toke Ibru, the Editor-in-Chief, Emeka Izeze and other senior members of staff. Mohammed said that with the signing of the budget, the economy would be reflated by increasing aggregate demand, increasing money supply and job opportunities Mohammed said that against the N13 billion earmarked for roads in the 2015 budget, a whopping sum of N350 billion would be released to road contractors to get back to sites. He said with this, millions of jobs would be created and there would be more money in circulation. The minister reiterated government’s decision not to award new road contracts, stressing that efforts would be on completion of abandoned projects by the previous administrations. He said that it would no longer be business as usual as government would ensure close supervision of projects as well as ensure probity and accountability in the disbursement of funds. On power, Mohammed said that with the privatisation of the electricity generation and distribution companies, government had no absolute control over the sector.

Read more at: http://www.vanguardngr.com/2016/05/2016-budget-will-reflate-economy-says-mohammed/