2 min read 291 words 2 views
0
(0)

All federal government staff across all the ministries,
departments and agencies (MDAs) who are not enrolled on the
Integrated Payroll and Personnel Information System (IPPIS) will
not get paid until they are able to do so.

The Minister of Finance, Budget and National Planning, Mrs.
Zainab Shamsuna Ahmed disclosed this Tuesday at the public
presentation of the medium term expenditure framework and fiscal
strategy paper (MTEF/FSP).

The minister said this is critical to block leakages and reduce
recurrent expenditure of the federal government.

She said “personnel cost (inclusive of Pension Costs) at over
N3.0 trillion has continued to rise. The FGN is however taking
steps to contain the rising personnel costs, including an October
2019 deadline by Mr. President for all MDAs to implement IPPIS on
the expenditure side of the framework, we have tried to keep most
expenditure items as low as possible.”

The Minister also said states will begin to pay for the bailout
they had received in 2016 from the federal government.

She said the bailout funds belonged to the Central Bank (CBN)
and will be deducted from source at the September 2019 FAAC revenue
sharing and remitted to the CBN.

She however, didn’t say how much percentage of the N614bn will
be deducted on a monthly basis until the debts are liquidated.

On the key assumptions for the MTEF, she said the national
consumption is projected at N122.75trn whilst oil projection is
pegged at 2.18 million barrels per day at $55 per barrel.

She also said DGP growth rate is projected to hit 2.93 percent
with a nominal GDP of N142.96trn with an inflation rate expected
not to be more than 10.81 percent.

Subscribe ToNairalaw News!

Read more

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

We are sorry that this post was not useful for you!

Let us improve this post!

Tell us how we can improve this post?

By admin