FG in­her­ited lean trea­sury, says SGF

Daily Trust - - NEWS - By Us­man A. Bello

Sec­re­tary to the Gov­ern­ment of the Fed­er­a­tion (SGF), Engr. Bachir David Lawal, has said that the ad­min­is­tra­tion of Pres­i­dent Muham­madu Buhari in­her­ited a broke gov­ern­ment hence the chal­lenge of fund­ing in­fras­truc­tural projects.

Engr. Lawal said this yesterday at the Iron and Steel de­vel­op­ment work­shop or­ga­nized by the Nige­ria So­ci­ety of Engi­neers (NSE).

Ac­cord­ing to him, the fed­eral gov­ern­ment in­her­ited a gov­ern­ment that is broke with the col­lapse of oil from N$110 or so to $35.

He said the gov­ern­ment needed to have more in­ge­nious ways of fi­nanc­ing in­fras­truc­tural projects in the coun­try be­cause it is no more gov­ern­ment as usual.

Engr. Lawal noted that the Vi­sion: 20:2020 eco­nomic blue­print em­pha­sizes pri­mary steel pro­duc­tion as crit­i­cal plat­form for Nige­ria’s in­dus­tral­i­sa­tion, say­ing that the vi­sion aimed at in­creas­ing steel pro­duc­tion ca­pac­ity to about 12.2 mil­lion tonnes per an­num through har­ness­ing lo­cal raw ma­te­ri­als for steel pro­duc­tion.

Ear­lier, the Pres­i­dent, Nige­ria So­ci­ety of Engi­neers, Ade­mola Isaac Olorun­femi called for the re­sus­ci­ta­tion of Nige­ria Steel Cor­po­ra­tion, Nige­ria Steel Coun­cil and Nige­ria Met­al­lur­gi­cal Coun­cil for ef­fec­tive mon­i­tor­ing and su­per­vi­sion of the me­tal­lic in­dus­try.

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