Tinubu Govt to Save N5bn on Foreign Trip Ban – Presidency

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Tinubu Govt to Save N5bn on Foreign Trip Ban – Presidency

The Presidency has revealed the amount the government will save following the recent ban on foreign trips placed by President Bola Tinubu.

Speaking on Friday, the presidency said President Bola Tinubu-led Federal government would save N5 billion quarterly from the ban of foreign trips for ministers, chiefs of government agencies, and other official travels paid with public funds.

Tinubu’s Special Adviser on Media and Publicity, Ajuri Ngelale, disclosed this while addressing State House Correspondents on Friday at the Presidential Villa in Abuja.

Tinubu had recently implemented a significant ban on foreign trips funded with public money for ministers, heads of government agencies, and other officials in Nigeria.

A three-month ban, effective from April 1, 2024, is part of a broader effort to reduce government spending and promote fiscal discipline.

However, Ngelale said Tinubu “aims to generate significant savings for the government while demonstrating his commitment to fiscal prudence and prioritizing service delivery over excessive expenditures.”

Ngelale said Tinubu by urging the people to buy products made in Nigeria and patronise Nigerian services is to boost the economy and keep the Naira valuable.

He said the President is also “taking action against fraud in cryptocurrency trading and the foreign exchange market, urging people to report any illegal activities.”

He added that the decision to “deal decisively with cryptocurrency trading platforms and with the sharp practices within the parallel market of the foreign exchange ecosystem are now yielding fruit.”