The President Muhammadu Buhari administration has saved a mind-boggling sum of money from the non-payment of fuel subsidy which has been exploited by oil marketers in the past.
Professor Yemi Osinbajo
The Vice President, Professor Yemi Osinbajo, has disclosed that the federal government has so far saved the sum of N1.4 trillion from not paying oil subsidy, ThisDay reports.
He also assured Nigerians that very soon, the foreign exchange market would stabilise going by some radical policies already introduced by the Central Bank of Nigeria (CBN).
The vice president who spoke in Kano yesterday during the third day of the 15th Joint Planning Board and National Council on Development meeting, urged Nigerians to restore confidence in President Muhammadu Buhari’s administration, insisting that soonest, the current economic problems would become a thing of the past.
“With the deregulation of the downstream petroleum sector, there has been a significant increase in the availability of petrol throughout the country for the savings of N1.4 trillion on subsidy payments alone,” he said.
“Also, a more flexible exchange rate regime, we will have to decrease the pressure on the external reserve. In the short run of course, there should be consequences for inflation. We expect that with greater priority we have seen in the implementation of the policy by the CBN, the foreign exchange market will stabilise and confidence will be restored.
“The adoption of Sustainable Development Goals (SDGs) in September 2015 was intended to place our world on the part of sustainable development by the year 2030.
"The 17 SDGs, which combined economic, social and environmental objectives, are intended to be universal, unlike the Millennium Development Goals (MDGs) which were made solely for developing countries.”
“The universal application of the SDGs and their 169 targets show that they are a menu of options, this allows the implementation to take count of different national realities, capacities, policies and priorities.
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