The Presidency has said the Bola Tinubu government will save N5 billion quarterly from the ban on foreign trips for ministers and other government officials paid with public funds.
The Special Adviser to the President on Media and Publicity, Ajuri Ngelale, disclosed this while addressing State House Correspondents on Friday at the Presidential Villa in Abuja.
News360 InFo reported that Tinubu placed a three-month ban, effective from April 1, 2024, on all government officials from embarking on foreign trips with public money.
According to Ngelale, the presidential directive is part of a broader effort to reduce government spending and promote fiscal discipline.
He said: “With the temporary ban being put in place from April 1 on all but unnecessary foreign travel, we’re expecting to save over N5bn per quarter.
This is going to be one out of several initiatives the President is taking to ensure that we reduce waste in the public sector in such a way that we can actually steer these very needed recurrent resources into the hands of those who are doing important work on behalf of the Nigerian people.”
Ngelale said the President is also acting against fraud in cryptocurrency trading and the foreign exchange market, urging people to report illegal activities.
He added that the decision to deal decisively with cryptocurrency trading platforms and the sharp practices within the parallel market of the foreign exchange ecosystem are now yielding fruit.
