FG to inject N350bn to revive economy

To rebound the dwindling economy, the Federal Government, yesterday, announced its readiness to inject a total of N350 billion in the next few months.The decision was reached at the end of a two-day retreat for governors of the 36 of the federation and members of the National Economic Council (NEC) at the Presidential Villa in Abuja. The Minister of Finance, Kemi Adeosun, made the disclosure alongside Minister of National Planning, Mr Udoma Udo Udoma; Governor Abdul’aziz Yari of Zamfara State, who is also chairman of the Nigerian Governors Forum and Governor Willi Obiano of Anambra State at a press conference. According to her, part of the money will help offset the debt owed local contractors, who had laid off their workers for lack of funds. The minister added that the state governors were also advised to reduce the number of political appointees and aides as a way of reducing the cost of governance.