The Federal Government is planning to spend about N42bn on rehabilitation of special economic zones.
This is as the Nigerian Army has concluded all arrangements to relocate its Intelligence School (NAIS) from Teigo Barracks Apapa Lagos to Litani Barracks Bida Niger State.
According to details of 2019 budget proposal submitted to National Assembly by President Muhammadu Buhari, a total of N400 million has already been proposed in the 2019 Appropriation Bill to effect this movement.
In addition, the institution has also proposed to spend N295.1 million to purchase armoured Type B Rover new vehicles for the take-off of Nigerian Army Special Forces School (NASFS) in Buni Yadi, Yobe.
It was in Buni Yadi that 59 boys were murdered by book haram terrorists on February 25, 2014 at the Federal Government College.
On the occasion, 24 buildings of the school were also burned down. And as a prelude to re-introduction of toll gates on the expressways, the Federal Ministry of Investment, Trade and Industry (FMITI) has proposed to purchase four weighbridge testing units.
To promote Made-in-Nigeria products, the ministry is planning to spend N200 million.
The government also proposed to spend N5.1 billion on Export Expansion Grant (EEG) that was re-introduced a few years ago to encourage exporters.
The N5.12bn is to come in the form of tax credit to support export through the EEG.
Government is planning the establishment of Special Economic Zones to drive manufacturing and exports of Nigerian products.
Government is planning the establishment of Special Economic Zones to drive manufacturing and exports of Nigerian products.
During 2019, FMITI will deploy N42bn on the construction of a road for Ikpokri Energy City project; the completion of Lekki model textile and garment industrial park; and provision of infrastructure at Brass Free Zone in Bayelsa State.
In addition, a textile and garment park in Lekki; special economic zone in Sokoto; special economic zone in Makurdi will all be constructed in addition to completing consultancy work on Ebonyi, Edo, Adamawa, Rivers, Bauchi, Enugu, Gombe, and Abuja, among others.
In addition, the government is also planning to invest in Enyimba Industrial Park, and Ibom Deep Sea Port and City to stimulate exports of made-in-Nigeria products.
The budget document stated that the sum of N1bn was being planned to be spent on industrial policy reforms and enabling business environment while Export-Expansion Grant would gulp N5.12bn.
The budget document also stated that the government would be recapitalising the Bank of Industry and Bank of Agriculture with N15bn in 2019.
The amount is being provisioned to support the development finance institutions to support Micro, Small and Medium, scale Enterprises.
The document also explained that the sum of N10bn had been provided as a grant to BoI to subsidise interest rate charged on loans to SMEs.
This is intended to make it possible for the bank to give them single digit interest loans.
1. Campaigns have just started.
2. Zonal campaigns kicked off in Akwa Ibom 2 days ago – 5 more zones to go
3. President and Presidency plus members of his cabinet need at least 30 days to go to all States in Nigeria.
4. Elections are just 50 something days away
When will they have time to expend and execute this project before the elections?
This money like the RICE SUBSIDY is quite suspicious!
A Statement Of Know Vital Truth.