Lagos- The Federal Government on Tuesday said that N120 billion had been saved through ghost workers in the various government Ministries, Departments and Agencies (MDAs).
Dr Ngozi Okonjo-Iweala, the Co-Ordinating Minister for the Economy and Minister of Finance, made the disclosure at FBN Capital Third Annual Investors Conference held in Lagos.
Okonjo-Iweala said that the figure was N20 billion higher the N100 billion earlier discovered by the government in February 2013.
She said that government would continue to cover the leakages in the economy to reduce recurrent expenditure and promote development of infrastructure.
“The major problem that distorted current expenditure in the country was the across-the-board increase in salary in 2010,” she said.
Okonjo-Iweala who spoke on the theme, “2014 and beyond: Managing Growth Prospects and Challenges,” pledged that government would further reduce its recurrent expenditure in 2014 budget.
Olusegun Aganga, Minister of Trade and Investment, said that government would maintain investor friendly reforms to encourage Foreign Direct Investment (FDI) in-flows.
Aganga who spoke on the theme," FDI Flows- Enhancing Nigeria's Positioning and Competitiveness", said that government would ensure inclusive growth of all sectors to reduce dependence on oil.
He said that government would concentrate on areas with competitive and comparative advantage to sustain growth, especially in agriculture development.
Aganga said that Nigeria, with its rapid growth and potentials, would be among the world's best 30 performing economies by 2050.
The News Agency of Nigeria (NAN) reports that the conference, tagged: “Tomorrow's Nigeria Through Economic Empowerment”, is a yearly event of FBN Capital.